Market Watch: Bitcoin posts very rare signal.

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Here's something you don't see everyday.

https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

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I noticed something recently that I very rarely see when it comes to the speculation game. We can see that Bitcoin dominance dropped from 47.5% to 45% in the above graph.

So what? Seems like a small move.

Yes, it is a small move, but it is also significant.

During this time from October 19th to now (October 24th) Bitcoin has corrected from $67k down to the $60k support unit-bias line. This is a very rare signal that occurs quite infrequently. Normally a crashing price of Bitcoin would absolutely stomp on the alts x2 or more. Rather we see that the alt-market was relatively unaffected by the movement and gained dominance as BTC lost value.

What does it mean?

We can infer several things from this rare movement. The first of which came to mind was the idea that perhaps Bitcoin is becoming more manipulated than the alts at this time. This would make sense with the advent of all the futures ETFs being approved. All that institutional adoption is flexing its muscles on Bitcoin but the rest of the market is still largely untamed.

Let it ride!

Another thing we might infer is that alts are untethering from Bitcoin a bit. There is no rule that says alts must go down if Bitcoin goes down. Liquidity bots may view the alts as much more desirable during this potential mega-bubble period. Less risk-averse bots means less value transference to Bitcoin.

Full on alt-market

This is really the ultimate signal for another massive alt market rally. The alts are picking up speed when Bitcoin moves forward and gaining even more dominance when Bitcoin goes down. This could be the ultimate precursor to the mega-bubble we've been predicting all along.

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Let's not forget that October is usually kind of a boring month when looked at in retrospect. Considering BTC just went up 50% in the first 3 weeks of October, this could be a sign that No Dip November and Degen December are going to be even more insane than 2013/2017. Considering all this institutional adoption and even foreign currency status I'd have to assume this would be the case. The market has never been more bullish than this on the 4-year macro scale. All that is required now is that Bitcoin break above ATHs and hold there so that the bears get proved wrong once again.

Hive

Hive hasn't even flinched in the face of this 10% drop in BTC.
Normally Hive would have lost 20% of its value.
Rather it is still traveling in a tight 75-80 cent band.

Largely unaffected.

Once again, as predicted, this signals that even though we pretty much lost all of our perceived gains from the $1.60 pump, we still have an uncrackable support at the 70 cent line. It's only a matter of time before Hive and dozens of other alts start mooning during the mega-bubble.

It's also quite possible that alts will lead the charge on this one. Everyone is expecting that BTC will lead the way this time around just like it always does. As we all know the market rarely does what people are assuming it will. Don't be surprised when it is actually the alts that carry Bitcoin through this iron gauntlet of insanity. All the signals point to alts being very strong right now, and many of the alts haven't even gotten back to all time highs yet. Hive would have to 10x to get back to Steem's 2017 ATH. Meanwhile, BTC is already x3 higher than the 2017 ATH. Food for thought. Alts have a LOT of catching up to do. This could be the signal we were looking for.

Conclusion

Hopium is fun. My preferred method is to crush it up and snort it, but if you like melting it with a spoon and injecting it straight into the bloodstream I can't fault you for that.

If the 4-year macro cycle does materialize, coins like Hive and whatever else will get an automatic 100x. Liquidity honeypots like Rune and DEFI could go 1000x. It sounds ridiculous, and that's because it is.

For those of us that think there is a devastating economic collapse right around the corner... that is also true! And what's the best way to fleece all the sheep right before it happens? Pump the market to the moon and the orchestrate a controlled demolition. Duh!

Steel yourselves.

We are in for a bumpy ride.
And this is your lifeboat:

makeshiftlifeboateconomy.jpg

3D printed it myself!

Let it ride!

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21 comments
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What you think about $Rune? What about its price target? Can it to beyond 50$

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As long as it doesn't get hacked Rune could easily hit something insane like $1000.
These AMM liquidity honeypots are no joke.

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This is really the ultimate signal for another massive alt market rally.

🏎️🏎️🏎️🏎️🏎️🏎️🏎️

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I think the decoupling is slowly happening and I agree we are in for volatile times.

If we are close to a massive btc pump like many including me think.. I'm still not getting out of my ETH and BNB Defi positions, so I don't think the alts will be as impacted this time.

As always, I could also be totally wrong.

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Lets hope so and that alts remain on this streak to thrive! Hive has been doing extremely extremely well in this descending pattern this week.

It bring tons of hope and curious for next two months!

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For those of us that think there is a devastating economic collapse right around the corner...

You might be right on this one, although the majority is blind to it and waiting for the damn jab to fix everything in the world. The most it can do is reduce the population...

HIVE has been positioned very well in the market. I remember that during the summer dip it has managed to hold the lines better than altcoins.

This cycle is definitely different from what we've had so far and it's natural to be that way. The whole industry is on another level and the fact that some altcoins are out performing Bitcoin or leading the way is that fundamentally they do better than Bitcoin.

Real life use case is what will boost mass adoption for crypto and bring most of the money to crypto projects. We've gone past the speculative times for crypto. The world has indeed changed, Carlos Matos was right :D.

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With the ETF launch, perhaps more institutional money went into BTC, then profit taking happened, but those institutions didn't leave. Normally in the past, BTC rallies have been driven by people leaving alts and then when it crashes, people don't go straight back into alts. At the moment, the alt holders are just getting ready for the real launch - why sell?

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I think BTC will be heavily manipulated since there were billions invested into the ETF already. You can also expect those option junkies to buy a bunch of calls or puts building a wall that the market makers don't want to be passed. There is a lot of money so they will definitely manipulate it as much as they can.

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ETF is paper coin. So direct buys. Its a future ETF.

IMO it is tether.

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Yea I am wondering if Grayscale gets their ETF approved since they want to have actual BTC back it.

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Curious for the next couple of months. Trust we will all be having a great time in our lives has btc and alts pumps

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Oh man…! If cub were to go 1000x… no words!

Until that time, we just keep building

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indeed, I was surprised as well. We all know that bitcoin dominance will continue to decline in the long term which is of course a good thing :)

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What is going on and it's good to see the Alts taking advantage of the upward movement of Bitcoin. It's even better when you realise that the recent dips in Bitcoin no longer hits the Alts hard like before.

Take Hive for example, I'm still surprised to see us holding things together at 75cents. And we are in October. Lol. The remaining phase of this year would be juicy.

I guess we've got to hold the lines fast in that lifeboat.

Let's ride ✌️

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Lol I ❤️ you but 100x…what?! I won’t even know what to do with that. I’m gonna keep my expectations low and say you told me so later

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Let's hope that the HIVE cycle continues and that it exceeds the previous price and achieves a new ATH in December.

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That’s a great analysis. Still think BTC will make it’s run first then the standard flow down the marketcap. I am really feeling like Hive is carving its own path because yeah, like you said, it hasn’t really been hit like the other alts have and has been making moves when other alts haven’t. But who really knows. The market is going to do what it is going to do. We have made our bets and just along for the ride at this point. Reblogging for https://coin-logic.com

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