Although they are functionally different but they have a very similar trend chart.
1. They both rise and fall together.
2. When btc rise, they hardly get any momentum but when btc falls they go down significantly.
3. Whenever bullish trend comes into play, the circulation supply starts to increase.
4. A huge amount of supply is still in control of the issuer.
5. Despite their good utility of functions, still they are way behind alt and meme coins.
The bottom line: They are strong coins due to their usage and popularity but if anyone is expecting to take advantage from them during the bull run will not be a good at all.
The current uncertain market sentiment opens the door for opportunities. This is the high time to buy #Filecoin . It may dip around 3.4 to 3.8 and will reach 10 in 2024.
The utility of this coin is very high but the price of this coin is artificially pressed to carve ways for whales. Those who bought it at a high price can bring down their average price by buying at this level.
Just as I said in my previous article that BTC will bounce back and it did. Now its the time to restratigize your portfolio. Once you made a portfolio, try to hold long term. Not get greedy for short term profits neither be afraid of temporary loss.
Alert!!! Get ready for another bullish movement soon. Be cautious in your trades and avoid volatile coins.
All of those wondering about the sudden downturn of crypto market.
It became too predictable. Etf rejection and outflow of money after new year are the main reasons.
This is not the time for future trading especially for traders with low liquidaty.
BTC will take further correction of prices and Whales will buy it at a much lower price but before going down it will pump again to wipe out the guys trading in short position. This is the time to sell your current assets and restratigize your portfolio.