A wise man once said, one simply cannot predict the unpredictable

This week, the entire community is following the rates jumps with a shudder of heart. Watching all that closely, we picked up a bunch of interesting tweets

  • @officialmcafee: ‘What caused this decline?
    Confusion. The embarrassment of public brawlings. Fear from institutions who took absurdly unenforceable measures to allay their fears. Uncertainty in the minds of traders. But mostly ignoring the implications of a massively growing base of Crypto users.’

May 2018 will be the last time we ever see #bitcoin under $10,000

  • @muneeb: ‘Crypto is extremistan. We can’t predict what will happen; even historically cyclic markets have no guarantees of bouncing back. The tech, however, gets 10x better every cycle. Scientific progress is not cyclic, speculation is.’
  • @bobbyclee: ‘This bear market might last another 18+ months, until the next block reward halving. That’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions. Especially those on margin or those on the fence!’

Centralized coins which can control their own inflation at will (Ripple, e.g.)  will appear to do better during bear markets because they can simply shut the faucet off. However this centralized control completely undermines the point of cryptocurrency in the first place

@lawmaster: ‘Four months left to be correct. I present you the Bitcoin price predictors’

BTC

8,744 USD
-6.81%

ETH

272.72 USD
-1.12%

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As Bitcoin Dominance Stalls, Analysts Ponder On The Next Level For Alts

Bitcoin’s price and dominance are currently hampering with neither experiencing major leaps or dips. However, crypto analysts have predicted that Bitcoin might decline further in price. They are also of the stance that altcoins will take the opportunity to rally instead of following Bitcoin’s pattern, as is often the case. Bitcoin Spikes to $10,000 After Reclining to $9,800 Today Bitcoin’s price as at press time is $10,184, which is quite similar to its price yesterday, and the past few days. Nonetheless, in the early hours of today, precisely 03:14 UTC +01:00, the crypto asset dipped to the $9,800 zone. It later made a quick retrace to the $10,000 level at 06:09 UTC +01:00. In the same vein, Bitcoin’s dominance since August 6, 2019, has been between 67% and 69%, according to CoinGecko. The latter goes contrary to its dominance of about 70% in July. At the time, the virtual asset’s dominance fluctuated quickly. Bitcoin’s Influence on the Altcoin Market Since the start of the year, most altcoins have either surged or dumped depending on Bitcoin’s performance. On certain occasions where Bitcoin spiked, some altcoins did the contrary by dipping in price. What was, however, remarkable is that these altcoins sunk even further each time Bitcoin plunged. However, crypto analysts are now predicting that this time around, altcoins won’t take the backseat. Instead, it’ll be the “REVENGE OF THE ALTCOINS”. They forecast that the current stall in Bitcoin’s momentum will trigger a bull run in the altcoin market. According to them, the most recent decline was unable to drag down altcoins; instead, altcoins have been stable or experienced minor gains. Crypto Analyst Believes Bitcoin Will Dump and Altcoins will Surge WelsonTrader, for instance, stated on August 22, 2019, that Bitcoin’s dominance has reached its resistance. On the contrast, altcoins have reached their major support levels, and as such, they will likely bounce. The crypto enthusiast further outlined that Bitcoin will dump while altcoins will spike. In another tweet, WelsonTrader said a crypto asset that could potentially rally soon is XRP, the third-largest cryptocurrency by market cap. The crypto analyst also tied his recent prediction with the former, reaffirming that Bitcoin is at its resistance, while XRP is currently at its support level. Another analyst, LilMoonLambo, opined that Tron (TRX) is exhibiting a double bottom bullish divergence on its daily chart. LilMoonLambo also remarked that altcoins have been picking up pace in the past 24 hours and this performance is not stopping anytime soon.  The post As Bitcoin Dominance Stalls, Analysts Ponder On The Next Level For Alts appeared first on ZyCrypto.
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