$BTC Just Hit New ATH of $94831 and Global Market Cap Hit New ATH at $3.12T, But Why Not Follow by the Most ALT and in Correction?
Bitcoin Highest Price $69000 in 2021 with a Global Market Cap of $2.86T but currently Bitcoin broke the new ATH at $94831 but with the Global Market Cap also broke through $3.12T. But if you look closely at the increase in ATH this time ($94831 compared to the previous ATH $69000), which is 37.43%, but the increase in the Global Market cap from $2.86T to $3.12 means only 9.09%, which means that it is not comparable. In fact, in addition to the increase in the price of BTC with a fixed supply and also for 3 years, there are also millions of new projects in this crypto world during this 3 years.
What does this indicate?
1. New projects that are launched 99% only to take funds from existing investors because 99% of them are scams. So choose an existing project according to your ability to bear the existing risks.
2. Many projects are undervalued, but if they are listed on the CEX, their value will increase dozens of times, even hundreds of times, which in the end only becomes a money machine for the initial investor and the project team.
The phenomenon that exists at this time is that the BTC price Rise is always followed by an increase in the value of BTC Dominance. This will show that the BTC price rise will not be accompanied by an increase in ALT coin in general. But only certain ALT and if the value of BTC suddenly landslides, the value of each ALT coin will be drastically corrected, so large investors are always careful with the value of BTC if there is a correction.
BTC is currently the best investment because of the existing price stability. If BTC is corrected and 1 day is 4%, then all ALT will be corrected by dozens to 30 %. So do not forget to take your profit if already meet yours.
So for those who hold ALT Coin, always be careful.
If you have other idea, please write at the comment.
