Altcoin Season: Is It Upon Us or Is This A Small Shorted Relief?
Altcoin Season: Is It Upon Us or Is This A Small Shorted Relief?
Hello everyone!
This is getting ridiculous. It's the third time I'm trying to make this post on this Android and the text goes away and I need to restart from scratch. Here we go again.
After the recent and violent move from Bitcoin, everyone is divided.
A lot of people are expecting for a few weeks or months of horizontal action from Bitcoin and are sure that Altcoins will make massive gains against BTC in this period.
Others can only see Altcoins losing value to BTC and are staying away from Altcoins as if they had the plague.
Source: Giphy
My question is, which side of the camp are you on?
- A - The Altcoin Season is about to start and will last a few weeks.
- B - The Altcoin Season is about to start and will last a few months.
- C - What Altcoin Season? Are you mad? Bitcoin will resume crushing every Altcoin soon enough.
- D - Something in the middle. Bitcoin will go up or down and Altcoins will retain their BTC value.
Answer the question at dpoll.xyz.
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Another fan here... D 😂
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I think a lot of people focus on Bitcoin and are missing the fact that there are some great Altcoins out there that you can actually use. I believe that most see Bitcoin as an investment and don't use it.
Altcoins, on the other hand, that have a purpose offer real value because you can actually use them.
That's true... but these markets are not rational. They seem to only value Bitcoin for most of the time until a certain day when Bitcoin "becomes a crap" and, during 4 or 5 weeks, every Altcoin, even those related to dead projects, start popping like mushrooms.
That's why I stick to Bitcoin. In all this craziness, it's the one with the more logical chart.
I just know altcoin season is no guarantee despite its history. Depending on what money is flowing into BTC right now people might sell some BTC for alts, but these people might as well be real investors/hodlers of BTC only. Ofcourse I’m hoping for answer B so I can pay for SteemFest with actual STEEM this year :P
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I'm not confident at all in any Altcoin recovery anytime soon... But let's wait and see. 😎
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I think we will continue to see a consolidation until the BTC chain starts to clog up since the lightning network isn't in full swing. The money will then start to flow back into alts, I wouldn't read too much into it, we're in a far better place than we were a few months ago in any case, just take it as it comes
The charts of most alts vs BTC is scary as hell. It looks like a neverending abyss. Steem and SBD included.
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This is a very unlikely scenario... I was wondering if anyone was going for it.
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Strange to see this reply having fans. Ahahaha. 😂
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