If history repeats, 2 more months of alt season
I am actually a proponent of the "expanding cycles" theory and I expect that this bull market / the market in general will move more slowly than in 2017 or past bull markets -- so I do not expect this chart to hold up exactly. What I do expect is that before we see a true reversal towards end of alt season / end of bull market, we will see BTC.D drop *below* 2017 low ~35%. There are simply tons more potential investments in the space and more places for liquidity to flow before ultimately making its way back to BTC.
As you can see in 2017, there was brief support for BTC.D around 40/39% before dropping further to ~35% -- similar to what we just saw this week. Can we see it start it's descent further?
As you can see in 2017, there was brief support for BTC.D around 40/39% before dropping further to ~35% -- similar to what we just saw this week. Can we see it start it's descent further?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.