[UpVoteInvest Project] Bitcoin Flashback

Project @upvoteinvest on Steemit is designed for everyone who would like to become an investor without actually investing much! All the author rewards for our posts are used as a deposit for trading on crypto stock markets. Thus, generating more profit. All you need to do is to upvote. Every three months we pay back 50% of the income in Steem tokens to our subscribers who contributed to the project by upvoting our posts, according to their contributions.

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Hello Steemians!

Here we are again, still waiting for altcoins to wake up from their lengthy hibernation. It’s almost spring time after all! Meanwhile let’s at least try to predict when a possible growth can be expected, looking at a BTC chart (we are using a 3-day time frame for our purposes).

In our opinion, altcoins started blooming almost simultaneously with the growth of ETH in Feb, 2015. It was most likely determined by the fact the BTC price stabilized after dramatic fluctuations. Right at this point traders started paying attention to alternatives, including some trash coins. However, as soon as Bitcoin was going up, everyone would abandon altcoins and shift back to BTC, dropping the price of the former. This strategy tuned into a trend that dominated the market for two years, till the summer of 2017, when the existing order was violated by the BTC unprecedented runup.

At this point the majority of traders switched to USD/BTC transactions, a bunch of newbies jumped on the bandwagon and the whole picture started to imply that Bitcoin is another bubble doomed to burst.

Right now we are observing another cycle of volatility and need to wait for BTC to stabilize at a certain level where it would become more profitable to trade in BTC/altcoin pairs again. The question here is how long it would take for BTC to settle down and how lengthy this period of consistency will continue. Perhaps a half year break would be sufficient for the market to calm down and get ready to conquer the next hights. Meanwhile, we won’t be surprised see BTC dropping to $6K first.

In any scenario we wish you profitable trading!

The @upvoteinvest team

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A formal disclaimer
Some of the posts might contain our opinion on trading strategies based on our technical and fundamental knowledge. However, please, invest at your own risk. We can’t be held responsible for any loss.