I would like to make a small assessment of the situation about Bitcoin. Even though people are crying, I don’t think it’s even a big decline, let alone a decline that will break the trend.
As I always say, when I look at the ALT/BTC parity, not the Bitcoin price, I see a downward break in the 40th week of 2019. This breakdown may happen again, it is possible.
After this breakout, I expect to see a scenario in which Bitcoin becomes in a channel. (60 – 45k) This scenario would also not be contrary to the macro perspective of the markets globally. Another chart that supports this scenario is the USDT dominance chart. We can think that this chart will reduce the price of Bitcoin as it rejects the uptrend and rises to decide the continuation of the trend.
Seeing the rise of Bitcoin dominance in this process signals to me that some altcoins in particular will be hit hard. Therefore, there will be great bleeding in the altcoin market, except for the solid altcoins. However, the altcoins that survive this process will make ATH much more performant as Bitcoin reaches its 100k target.
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