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RE: BITCOIN UPDATE: CAN BITCOIN BE REPLACED BY ANOTHER SUPERIOR COIN? HOUSE OF HORRORS!!!
If there is almost everywhere a bearish pattern in paris .../BTC, bitcoin will be probably getting stronger at the expense of altcoins. Am I right? Your thought that some supercoin might replace bitcoin sound incoherent with bearish ALTS/BTC pattern. Looks like you interpret the .../BTC chart incorrect (the correct outlook is totally opposite to yours).
I see your point. However, my angle is on the fact that /BTC going to near zero is because BTC will no longer be the reference coin. Rather, it could be ETH/BetterCoin, or ZEC/BetterCoin, XMR/BetterCoin.
In other words the bearish pattern is not to reflect that the Altcoins will get less to BTC but it will no longer be used per /BTC; rather, /SuperCoin.
That SuperCoin could be any coin, we just don't know which one.
I second that view.
If BTC moon, Alt coin will need to pump value a lot to stay at same ratio.
A ETF approval for BTC funds could bring M$ to blockchain and skyrock prices.
Bitcoin Cash could benefit too, explaining the handle cup for BTC / BCC
I don't think there will be a supercoin at least for some time. It'll be like the breaking up of USSR. There will be a bunch of dominant coins. Dash and ETH are the most likely to be standard but it could even be USDT. There have been too much greatness burried under the shadow of BTC and it's all going to pop up. Different exchanges will even adopt different coins. I mean this is still a free market. Nobody will dictate the standards.
I see your point. However, my angle is on the fact that /BTC going to near zero is because BTC will no longer be the reference coin. Rather, it could be ETH/BetterCoin, or ZEC/BetterCoin, XMR/BetterCoin.
In other words the bearish pattern is not to reflect that the Altcoins will get less to BTC but it will no longer be used per /BTC; rather, /SuperCoin.
That SuperCoin could be any coin, we just don't know which one.
Even if Bitcoin is no longer used as a reference coin by the traders the relation of values still exists. So what would it mean if ALTS/BTC goes near zero? IMHO Bitcoin is infinitely valuable comparing to alts or in other words alts are almost worthless comparing to Bitcoin.
If BTC no longer becomes the reference coin and is replaced by another reference coin, then it becomes subordinate to that. So, I can't see BTC being inifinitely valuable as a subordinate coin and no longer a reference standard.
Yes, but that scenario is against the your prognose in the chart. If your HS scenario is correct, then opposite fundamental event shall arive. For example some huge improvement of bitcoin like lightning or sth else we dont know yet, that sweeps out altcoins.
I agree with @haejin completely about what he says about BTC here. The market has lost confidence in it and when the BTC whales who hold so much BTC realise, they will just play the markets till they've offloaded their stash and traded it to something else, and you are right in this post and your replies. What will they trade it for?? DASH? I love your videos.