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RE: BITCOIN UPDATE: CAN BITCOIN BE REPLACED BY ANOTHER SUPERIOR COIN? HOUSE OF HORRORS!!!
That means BCH and BTC increase their value against these other CCs? So that is good for BTC and BCH I guess.
That means BCH and BTC increase their value against these other CCs? So that is good for BTC and BCH I guess.
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.
Hello @haejin. The only other reference coin candidate is BCH.
But there are no other signs for a takeover.
My two cents is that all alts including ETH loose more value then btc when they drop.
ALTS/BTC would goto zero if there were an indefinite selloff.
If we are still expecting a bear market (please let me know if you changed your mind after these last analyses) then those charts are just another indication of the bear market that is coming.
Decred! Solves the BTC governance issues that lead to all this in the first place!!!
Maybe DASH...
I'm more leaning on Dash as it was the first governance coin as well as the instant (1.3second) coin and mass adoption coin+self funded coin. Decred does make BTC look like a pile of garbage but Dash is even superior. Plus they already have a bigger market cap and merchant adoption. https://discoverdash.com/
It could also be ETH as it is highly popular, easy to buy with fiat and upcoming Metropolis and solid roadmap.
My Wave IV correction still remains solid.
ALTS crashing in concert whilte BTC doesn't is possible but not as probable as BTC being replaced as the reference standard.