Good and long Candle at BITCOIN, seems we are going up again!
In less than 1 hour the total CoinMarket has passed from 398 to 408 Billion.
It is reflected at the 1hour chart below, on which BITCOIN seems to escape from the Lower Support set at 8800 USD:
To tell you the truth I was expecting a lower correction, between 8500 and 8000 USD.
Let's see what happen but if we see a couple of green candles more it would be clear that BITCOIN and so, the whole cryptomarket will resume the uptrend.
For the time being, almost the 100 first cryptos showing positive numbers.
Enjoy Cryptoland!
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Toma Candela!!
I'm feeling crypto-spring in the air for sure!
But you know what? I'm not so sure on Bitcoin. The sentiment is good, but my experience with peaking and bear markets taught me that it takes quite a bit longer to really finish consolidating.
I have this hunch that we may in fact see an altcoin spring, while Bitcoin may slump for a while. I think the people who got into crypto in december, are discovering altcoins now. Institutional investors on CNBC talk about alts now, where they only spoke about Bitcoin before.
Most investors go through the same cycle... first discover Bitcoin, then discover altcoins, then discover smallcaps, then re-think strategy and pull back to major and more serious altcoins, only to end up as a Bitcoin maximalist of some kind at the end of it all again.
So I think altcoins are going to really pop sometime soon. I feel they are decoupling a bit already from time to time.
In my opinion, in medium term, I can see a strong battle between altcoins in order to reach the second and third position, in particular between ETH and EOS. BITCOIN will continue losing "share" in the total market but I don think it will lose the 1st position this year, neither the next one... In three years from now maybe.
You know, BITCOIN is becoming more and more scarce and that is giving an added value which cannot be balanced by altcoins as XRP or XLM for instance...IMO. It is like GOLD nowadays...
ETH has to solve many aspects regarding scalability and transaction speed as well so, the only possible candidate to take the lead could be EOS but, of course, in this case there is more speculation and expectatives based on the performance of similar coins as STEEM or BITSHARES than real facts... I think that the last quarter of this year is going to be definitive in terms of COINMARKT leadership place.
Steem on!
Verde que te quiero verde.....lalolilo