We can all see many crypto's moving up and down in price as a group. Many like to think they are all "following BTC". In my opinion that is only true if the trading Bots are programmed to make that true. I see this many-coin-linkage as unnatural market behavior. I don't think normal stockmarket-type chart and fundamentals based forecasting is applicable to crypto yet (unless the trading bots are programmed/instructed to make it seem so). My theory is mega manipulators are pumping/dumping most of the crypto market all at once. They are very patient and will pump when they have gorged on enough cheap coins. Over the years, they have done this a few times already. I'd guess they have made obscene amounts of money each time. I'd guess they are growing their ownership percentages of many coins as well. Rich getting richer, of course. I look forward to the day when fundamentals (adoption/scaling/features) matter more than the whims of these mega-whales (and the waves of other buyers/sellers they move like sheep). Of course, I hope to be a happy sheep after the next pump, lol.
IMO, Bitcoin (BTC) is wearing no cloths (no fundamentals). Even if I am right, I think the manipulators need BTC's liquidity to max their profits, so, I think they will pump it at least one more time (I'd guess to 50K+/-) on the next run up. For years we have been able to see the whale-bots making all the coins they are controlling move together in an unnatural way. They may start to make that less obvious, but, I would be careful investing in coins that don't move with their herd of chosen hundred(s).
Thanks for considering my idea(s),
- Big Bubbler
As always, I want to encourage people with feedback and differences of opinion to speak up. Maybe I can refine my ideas (or grammar). If your going to spew Blockstream/Core social-engineering talking points, I hope we can all see through the disinformation and clutter. I believe Bitcoin-BTC is currently "wearing no cloths" (lacks the necessary fundamentals for wide-scale adoption as a cryptocurrency). My hopes are not high, but, I do hope BTC fixes it's problems.