Altcoins News
By Dan Saada
1 / 13
Twitter Handle Kevin Sekniqi stated about the current crypto trend, “When talking about 0. Buying momentum stalls. 1. Timely FUD (Elon, ESG, China) + Wyckoff blowoff. 2.
2 / 13
Conspiracies to entertain: was FUD and selloff coordinated? Maybe, market is unregulated. Likely? Probably not. Just a good alignment of timing.
3 / 13
What does this all mean? We're likely in crypto perma-bull. Likely in this paradigm we see slower rallies and faster blowoffs.
4 / 13
I became involved in Bitcoin a few months after Satoshi first released the whitepaper. I've seen all the cycles.
5 / 13
You wanted institutions with more sophisticated money. Well, this is what you get. Harder and more sophisticated drops.
6 / 13
Others stated: I think fear for rising interest rates also had a hand in the FUD.
7 / 13
It's clear that this bull-bear cycle is different from a *structural* perspective. Stablecoin pegs resolve quickly, backwardations reverts fast, funding rates return quickly.
8 / 13
Kevin Sekniqi stated, How many times has China banned Bitcoin now? I'm losing track. "And I'll do it again." "And I'll ban Bitcoin again."
9 / 13
Or, hear me out, Bitcoin is on its slow way out, and will be replaced by better tech. Markets are irrational, but not permanently.
10 / 13
Someone was like: BTC up + alts up = healthy BTC down + alts down = healthy BTC down + alts up = super unhealthy.
11 / 13
Also, the sell-off in BTC is coming from young money. In the future, Remember how when your (reluctant) friend bought their very first Bitcoin as it was rising, then panicked and…
12 / 13
Others commenting on China Threat: They could easily play on people assuming their threats are empty because they were usually empty. They've been banning crypto since 2015.
13 / 13
Worth Thinking: There’s probably many different systems of modern capitalism that use more energy than Bitcoin.
The Currency Analytics
Want the full story?