Twice I've called alt season and twice I've failed.
Third time's the charm?
Alt charts should be making their way to the disbelief stage vs USD very soon, now that BTC has had its steep "sucker's rally".
I've seen the alt market act like this before, in December of 2017.
It appears the algorithms are using the same technique to hunt. Push down until there's no sellers left, then retest. Short term Adam & Eve.
Will the alt boom be as meteoric as December 2017?
Before, I was under the impression it would be a slow, tangent rise to the disbelief stage, but then we saw what BTC just did, so I looked back at the dot com bubble.
Same players, similar game.
Amazon, for example, took 40% of the time it took for its depression phase, to get to the top of the disbelief phase.
How does that look for alts? ~200 days of depression phase = ~80 days of uptrend to the top of the "sucker's rally".
Alts that are going to survive should be able to go to 35%-65% of their peaks of the bubble, in this phase.
XRP, for example, peaked at $3.30, so it should be able to make it somewhere in the range of $1.16-$2.15 within this 3 month period.
While BTC falls value, into disbelief, this should show a 4-8x rally, relative to BTC.
An 8x rally from here would put XRP above BTC's market cap.... And yes, I'm pro crypto/anti-centralizatino, but people are stupid and they will buy whatever the market tells them to.
They will prefer to buy XRP for $2 so they have more, than buy BTC for 6k, with no understanding of market cap and rarity. We've seen it before and we'll see it again.
Third time's the charm?
Alt charts should be making their way to the disbelief stage vs USD very soon, now that BTC has had its steep "sucker's rally".
I've seen the alt market act like this before, in December of 2017.
It appears the algorithms are using the same technique to hunt. Push down until there's no sellers left, then retest. Short term Adam & Eve.
Will the alt boom be as meteoric as December 2017?
Before, I was under the impression it would be a slow, tangent rise to the disbelief stage, but then we saw what BTC just did, so I looked back at the dot com bubble.
Same players, similar game.
Amazon, for example, took 40% of the time it took for its depression phase, to get to the top of the disbelief phase.
How does that look for alts? ~200 days of depression phase = ~80 days of uptrend to the top of the "sucker's rally".
Alts that are going to survive should be able to go to 35%-65% of their peaks of the bubble, in this phase.
XRP, for example, peaked at $3.30, so it should be able to make it somewhere in the range of $1.16-$2.15 within this 3 month period.
While BTC falls value, into disbelief, this should show a 4-8x rally, relative to BTC.
An 8x rally from here would put XRP above BTC's market cap.... And yes, I'm pro crypto/anti-centralizatino, but people are stupid and they will buy whatever the market tells them to.
They will prefer to buy XRP for $2 so they have more, than buy BTC for 6k, with no understanding of market cap and rarity. We've seen it before and we'll see it again.