BitcoinLong
BTC possible scenario
As we can see, the markets depend on Bitcoin. There have been speculations that maybe ETH or XRP or even BCH could potentially take the throne, but Bitcoin is the market liquidity leader and everyone depends on it, that is clearly established. XRP, LTC, XMR, ETH, ETC, ZEC as bullish as they are, we arent at the stage for certain coins to break free yet. I feel many people are scared at these prices in fears of the classic crypto market cycle completing at 3100-4000 however it would be completely counterproductive if we went that far backwards. Considering 4 more Greyscale trust launches, Coinbase's new asset management platform as well as the liquidity and volume requirements for these platforms to become successful, as well as exchanges scaling across the board and Circle's $400 Million dollar acquisition of Poloniex, smart money sees the potential future. There is nothing stopping us from swooping lower temporarily and large institutions swallowing panic and fear from short term speculators but like I said, I feel that would be just a bit too counterproductive. Many of the altcoins are releasing tech and achieving developmental milestones as well, and everyone depends on the liquidity and volume of Bitcoin which leads the markets. This constant chop both ways isn't good either and its just attempting to frustrate and liquidate all the margin traders. I think the healthiest and most reasonable outlook would be for Bitcoin to consolidate as shown in an ascending triangle pattern for the next few months which would turn the sentiment back to strong bullish for everyone identifying the pattern forming as well as spark market interest again for all those people sitting on the sidelines who were trying to get into crypto but going WTF at this volatility.
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