We usually tend to say, often out of habit, that Bitcoin leads the market but really altcoins tend to move ahead of Bitcoin. The altcoin market, in one way or another, always reveals what will happen to Bitcoin. This dynamic will continue as long as cryptocurrencies exist. Let me prove my point.
Bitcoin peaked around July but never crashed. Many altcoins started peaking in May, some in June, and then more in July.
Bitcoin continued to challenge resistance and reached new highs until October. Bitcoin did not show any negative action until it started to decline. On the other hand, the altcoin market began to crash significantly, critically, and easily before Bitcoin. By the time Bitcoin reached its final peak in early October, many altcoins were already trading at new lows. In this way, altcoins showed us what was coming for Bitcoin.
Bitcoin is now trading below $90,000, remaining sideways or neutral for weeks. Many altcoins are rising and moving upwards. Currently, many altcoins are also rising with strong volume, which is a good sign.
Many, many altcoins bottomed on October 10 while Bitcoin bottomed on November 21. This is clear evidence that the altcoin market moves before Bitcoin.
We see altcoins rising strongly; full strength now but it is still early, however, the upward momentum is increasing; this reveals a strong bullish bias towards Bitcoin as Bitcoin follows the altcoins.
It is not fundamentally that Bitcoin follows altcoins, but rather that altcoins tend to move first due to their volume. Since the market is large and many people are aware, some of these people know from different sources that the market will rise based on Bitcoin and start buying altcoins; altcoins rise strongly before Bitcoin. And we have a self-reinforcing cycle.
We know that Bitcoin rises because altcoins rise. Altcoins rise because Bitcoin rises, and each side feeds the other.
Just as altcoins moved first in the downward direction, they are moving again first in the upward direction.
This is the ultimate guide. I love you, thank you, and appreciate you; the best is yet to come.
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