One whale falls, and everything comes to life!
Bitcoin has pulled back, dropping directly from around 108,000 to about 103,000. If it goes a bit harder, it might drop to 100,000. Other altcoins are being suppressed and are starting to fall, but I think it might be a good thing. Bitcoin is continuously draining, and altcoins are not rising but instead falling. Now that Bitcoin is taking profits, the realized gains might help to boost the altcoins. There was a similar performance a while back, where a seesaw effect appeared between Bitcoin and mainstream altcoins, and it is very likely that this will happen again.
In short, as long as Bitcoin holds up and does not experience an extreme crash or black swan event, the bull market is still on. Altcoins won’t drop too drastically, and they will see some recovery following Bitcoin. In fact, altcoins have also been rising during this time, doubling and even tripling from their lows. So, Bitcoin rises for a while, takes a break, pulls back slightly, or moves sideways, which will benefit the recovery of altcoins. What does everyone think?
