NEO Update: Where and when will corrective wave c finish?
My earlier bullish call went bust! I had thought the diagonal triangle could bring one more push up to higher highs, however the prevalent Bear sentiment across the crypto coin ocean had a stronger pull. The Bitcoin moon is moving the tides back, clearly. At this point, exactly when NEO's correction will finish is unknown and it could be anywhere from here to the level of where prior wave 4 price levels. I don't have a crystal ball. I do know, that the Bitcoin Bear has catched a cold and so the Altcoins will thus catch the flu and unfortunately they have not any flu shots.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Good Job. The main call is the Bitcoin call.
Can not fight the bitcoin bear.
I think the main player was China's ICO ban overreaction. Flu will be over before the end of the week.
Given the current wave count, I think the correction may stretch a bit longer. I elaborate on that here: https://steemit.com/bitcoin/@stocks29/bitcoin-elliott-wave-timeline-how-long-will-this-correction-last
Bitcoin will surely go down a lot. I agree with you. But BTC is progressively becoming less and less important in the crypto space. This downtrend will only speed things up. BTC is the worst of all top cryptos. People see it failing will take more interest in Alt-coins. They will be forced to look into the technologies behind and figure out that BTC is pretty much a steam engine. I believe Alt-coins will pickup faster than BTC and BTC will further loose its market share in the coming bull run.
We also have to consider that this may be seen as a blood in the street opportunity for people who have been interested yet not heavily invested in cryptos. Most of that money will flow to Alt-coins. BTC will be left with it's fanboys/girls for the most part.
I could definitely see that happening eventually, but I believe it'll take some time. Likely longer than we think it should take. Thus far all the alts seem to be moving in tandem with bitcoin for the most part. With bitcoin being the original crypto, I think it's going to take a while for people to decouple bitcoin from cryptos, especially and specifically the mainstream population. There are definitely those that believe that bitcoin will be around and on top forever. It'll take some convincing of another view to shake that.
Coincidentally, USD had been getting hammered until recently. I do wonder if traders are moving back to USD as it appears to be nearing a bottom.
One thing is for sure. It's going to be very interesting to see how this all unfolds! :)
People who look up WSJ for financial advice is always going to screw up whether it's stocks or crypto. Anybody else who are newly introduced into the blockchain space who does real digging will come mostly decoupled with BTC. The people who started years ago while BTC had the best fundamentals in the market will turn pigs, stick with the Segwit coin and get slaughtered.(I predict below $5 billion market cap for BTC by 2020).
Crypto is still early adopters market. There is no mainstream in blockchain. There are just bitcoiners who doesn't face the facts. In a sense they are the mainstream equivalent in this space.
Monaco and TenX is picking up. NEM is already big in Japan.
https://pivx.org
dashforcenews.com
People are bound to discover treasury funded sponsor programs from Dash and PIVX.
Thai government already working with OMG. NEO is going to get really big. There is also Bytom and WTC and of course there is BCH.
Death of BTC just started. It takes few months. It's pretty much Day 2 at the moment. We'll see major changes by the end of the year.