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RE: Bitcoin (BTC) Evening Update: $18,424 and then $20,467 Short Term Targets
Then I guess I will have my alts bleed lol. I don't get this market anymore. I really think it's people with big pockets are running some sort of software to go back and forth. Because now everytime btc goes up alts suffer. It just seems like same people manipulating the market. In the end everything will be up but alts suffer bad now when btc goes up. Much worse that they used to. When btc goes up now it really negates all the TA on alts it seems.
totally agree, just glad I got in early enough that my profits wont bleed.
Part of it has to do with it being a self-fulfilling prophecy. It's happened so frequently like clockwork that the moment it looks like BTC is about to make a move traders will ditch their alts to avoid being down 20-30% in BTC. This ends up triggering stop losses on everyone, bringing alts down even further, and since much of trading is down with bots this is a cascade effect that happens simultaneously.