Who thought bitcoin was ready to give alts a break was wrong. It is pushing higher, new ATH after old ATH, cannibalizing to some extent the other cryptocurrencies, that started to bleed back into BTC.
Its dominance is pushing higher, much like the price, if not more accentuated. Look:
There were two recent attempts for alts to catch some momentum, but they both ended up reversed, with higher lows and higher highs on the BTC.D chart.
Seeing this, I can't wonder if I didn't take that profit from BTC too early, but I guess that happens when you do it gradually. In the meantime, I pushed two of my other profit taking thresholds higher and higher, and I'm thinking to take a little more profit here around 100k.
At the same time, looks like the news for Bitcoin from the adoption and price perspective get better and better. Something like a decision to make it part of the strategic reserves of the US would make major news and push the price like a rocket. But that decision can't come until next year, if it does... Plenty of time for a correction until then, right? Of course, until then there is the decision from Microsoft's shareholders meeting from early December...
Wars finding a resolution would likely send all volatile assets to Mars, as well. Moon may be too close... 🤣 OK, ignore that, now I'm FOMOing...
Hmm, I don't know, I'm kind of convincing myself to hold off on doing any moves at all for the time being...
How do you see the whole situation?
Posted Using InLeo Alpha