Alts Are Ailing But BTC Is Symptomatic
So BTC fell below 64k and is currently at 61k, and I assumed it was only Hive that was dumping (as many are championing).
Do not get me wrong, Hive will react to this BTC dip, 99% certain, but it may not be as severe. The point is that the market is in turmoil, and the Hive price serves as a scapegoat for some of the issues plaguing the ecosystem. We are not behind in anything. Except for BNB, no altcoin has made a significant move; every altcoin is either flat or dipping, and BTC is simply pushing them lower.
The "Selling" Question
Some people will ask, "But who is selling Bitcoin?" Many people are, and some are also buying. However, the market is still too early for the X10 or 50 you have been dreaming about. For what it is worth, I expected BTC to stay in the 62 to 64k range for a month or two, and then another pump in September or October.
However, many cryptocurrency predictions are currently incorrect, owing to the fact that we are witnessing the most unique market cycle in history. Many influencers believe that 74k BTC was the peak of the bull market and that there will be no alt season in this cycle, but this is all speculation, and we will continue to look back at market patterns and conclude that the bull is not over.
Crypto Twitter is the worst place to be right now; the FUD is even bigger than the average Hive ranter, who is frustrated that they have not seen $5 or $6 since the halving and ETFs. I am currently in a FUD state, but it is due to my health rather than the market, so I understand how it feels to be there.
The truth is that the market is not quite ready for the bull market yet. There are so many unsettled issues, the FEDS, The US and the presidential election between Biden and Trump. A lot of things are not in place yet, and I believe the only people benefiting from cryptocurrency are the big boys with a lot of money and market knowledge.
The Impatience Makes It Harder
As for when your favourite altcoin might go up, unfortunately it isn't just time. We are no longer in a bear market, but the market remains bearish, and we know that bearish vibes are what cause panic selling. So there is panic, and no one wants to buy something that is falling. The famous "buy the dip" is only for a select few people, as the majority of the population is too afraid to participate.
Hold The Line
Amidst all of the panic, BTC is pretty good, 13% down, and the guns are out; some alts may still do a 20% dip in response, but until we are out of all the uncertainty, I believe we will remain flat or even dip further.
As for the Hive populace who are constantly complaining, instead of panic selling and blaming the price for remaining low, keep your coin and use it to benefit the ecosystem, your friends, and your community. You can do better; hold the line.
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Honestly bro, the market trends are so unpredictable right now. I think it’s tough for everyone involved, especially with the constant ups and downs. Holding the line is always the best advice I could give. Look at Hive too, it was at 27 and now at 23 well it went to 22 and came back to 23.
It's peculiar with this cycle, everything seems unpredictable as people who have always predicted the market well are now getting it all wrong.
That's the scary part, the predictions are not looking accurate
It's just because this cycle is not the same as the two previous cycle, though a few similarities here and there
Oh I understand now, well I'm still not too experienced but with time I'll get more knowledge on this, thanks brother
Well you'll definitely get there with time..
Thank you brother patience and consistency that's what I really need I guess
Just hold on to your coin, that’s the best idea I can give to anyone. I’m even glad that Hive came back up from $0.2 to $0.22
I don’t like when it goes below that $0.2 mark😁
Well, it's beginning to dip a little (Hive) because of BTC, just as I said.
It's tough to really say when the market will move and I honestly don't know if there are any bullish things happening to BTC. I know there was the halving but that happened a while ago and the ETFs are there now. I agree that we can't expect anything to go up right now but I do think that things will recover over time.
The recovery is overtime, just as you're thinking too I believe not a lot is happening to BTC. It's frustrating, but it's not the end, it's just the beginning and I expect a lot more in the coming months
Love the ending! There's a great option to put our funds to work while the market does its things, I also think we're in a sorting out and putting everything in place type of season, a good number of uncertainties are still pending.
That's probably the only way. It's a frustrating time and many people are already tired, so I actually understand the frustration. However, people should do the best for themselves and the chain.
Keep up the good work. 👏
You are loved. 🤗 + u deserve the best. 💪
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