Bitcoin continues to advance rapidly and has already reached 84,000. The market is filled with voices that it may reach 150,000. However, not many people are really happy because most people do not have much Bitcoin and all they have are altcoins. The growth of mainstream altcoins lags far behind BTC, and many are even at half of their highs in March and are far from being untied.
Why is there such a strong differentiation? There are only two possibilities. One is that the institutional funds entering the market are only optimistic about Bitcoin and are only willing to pull Bitcoin; the other possibility is that the funds may not be so sufficient and are unable to take care of pulling other mainstream altcoins.
If it is the former, it should be OK. When the main force has pulled up BTC enough, it may allocate some strength to pull up the copycat. But if it is the latter, it is not so good. Insufficient funds cannot drive the entire crypto market upward. However, the crypto market is a whole after all. A bull market of a single currency is definitely not a real bull market. As the old saying goes: A single yang will not last long. If you pull up a single currency, as long as the whole market is sluggish, it is very likely to fall again. Once BTC falls from the sky, it will be a disaster black swan for the entire market. The copycat will not rise with it, but it will definitely fall with it, and it is inevitable that there will be widespread grief.
So, my point of view is to short appropriately and hedge the risk. What do you think? $BTC
