✳️ Kyber | How Can The Altcoins Grow When Bitcoin Drops?I shared a chart for Kyber Network vs Bitcoin (KNCBTC) back in January 2023. Needless to say, it was a complete failure and KNCBTC dropped the entire year, straight down.
Now, how can this pair grow if Bitcoin goes down?
➖ Bitcoin grew through the entire year 2023.
From January 2023 through January 2024.
January 2024 through February 2024 we have a higher high based on a flat (irregular correction)... Basically Bitcoin is still strong while KNCBTC is still bleeding.
➖ As Kyber Network goes down while Bitcoin goes up, when Bitcoin goes down Kyber Network goes up.
This is an answer to this question that I keep receiving: How is it possible the Altcoins will grow if Bitcoin drops?
➖ When Bitcoin is rising, people sell KNC for BTC.
So the KNCBTC pair goes down.
➖ When Bitcoin drops people are selling Bitcoin.
In the case of KNCBTC, people would sell BTC and buy KNC.
It is a very simple dynamic.
➖ KNCBTC Peaked April 2022.
It has been dropping for almost 666 days.
After a strong bearish market, comes a strong bull market.
After a strong drop we get a strong rise.
It works all the time.
Thank you for reading.
Namaste.
