Has altcoin bull run returned, not yet!

Among the altcoins, ETH, XRP, LTC and EOS are performing extremely better. Few top altcoins has seen 10-15% gain in last two to three days. Bitcoin dominance has dropped from high of 70% to 67.7%, still too high from its low of 31%.

EOS is up to $4.1 from $3.2. LTC is up $78 from $63.

Even Steem has recovered from 15.5 cents to 17.5 cents which is 13% gain.

BTC has seems to be stalled between $10K to $10.5K.

ETH is bullish on the news on Instanbul hard fork testnet.

Is it heralding the ultimate altcoin bull run that everybody is waiting.

To water your enthusiastic fire, I believe it is not the professed altcoin bull run.

It is breathing sigh from exhausted altcoin sellers. They got bored by the Bitcoin's sideways movements. They needed the entertainment, therefore they pumped altcoins temporarily.

When BTC will resume it run again towards its all time high. All traders will jump the ship of altcoins and on-board the journey again.

Why is altcoin bull run is not sustaining? Most traders are accumulating BTC for upcoming mooning of BTC and they don't want to miss the train this time. They are selling altcoins on the bounce to increase their BTC to honeymoon on the BTC halving.

It may be little relief for Steem HODLers but nothing interesting. Steem is still at historically lows and screaming for buyers. But it will not stay low for ever.

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@dtrade
Cryptominer, trader and blogger since 2013