Bitcoin is the primary source of all digital assets. Every assets relies on Bitcoin. Most option out of crypto is through Bitcoin and so as the entry. When Bitcoin goes down so must the ALTS.
Most of crypto investors are waiting for Bitcoin to drop to 5000, as some believes that corrections are over and Bitcoin is regaining some value. But, what is happening lately on Bitcoin?
It's almost a week since Bitcoin turns into a pump and dump situation. To my understanding, if we look into Bitcoin's price chart movement from last year up to now it seems that corrections are finally over and we are starting to regain traction as Bitcoin price starts to rally back to the top. See the 1d chart below to know what is happening.
What happening right now is Bitcoin trying to do one final correction before it rallies back to $9500. I know that there are traders still being doubtful and waiting for Bitcoin to drop dead to $5000 before they buy back. For me it won't happen. Things are looking good for crypto holders and if I get this correctly. We will be back before June ends. Happy trading everyone.
This is only my opinion and it's your decision weather to believe me or not.