Bitcoin has bubbled big multiple times now. What happens when Bitcoin is overbought and and all the altcoins haven't really budged? Money from Bitcoin flows into the altcoins and the altcoin bull run is even more volatile than Bitcoin, because their market caps and liquidity are so low.

Now, I've asked myself many times why (during this recent Bitcoin bull market) the altcoins are making no gains during the upswings but take hits during the downswings. I think the answer has been actually quite obvious.

When a lot of the new-money millionaires got rich from Bitcoin they also made sure to set up trading bots and pick up a lot of the stake from the altcoin market as well. The altcoin market caps would be abysmal without these Bitcoin investors.

Therefore, due to the perception that Bitcoin is currently not overbought (it hasn't made all time highs yet) money isn't flowing to the altcoins, but those bots are still doing their thing, draining liquidity from the alt-market whenever Bitcoin is having a bad day.

Isn't this a good thing? Wouldn't you rather have value transferring hands to users who actually want to be a part of these new communities rather than being owned my some Bitcoin maximalist?

I've noticed a shift in the market.

Normally when Bitcoin crashes, altcoins crash harder. That's just how it is when you consider the liquidity involved. However, today has been a bit different. I believe that a lot of alts are already oversold, and they are going to continue to be oversold in the coming months.

I believe what we have to look out for is when Bitcoin crashes and the alt-market hardly responds. I think this will be the sign that the alt-market is totally bottomed out and ready to come back up. I think we'll witness a moment like this within the next two to four months.

Until then, just stay frosty and pay attention to the market. SBD is still under $1, but it is recovering quickly because no haircut exists at the moment and a lot of people are burning them for discounted Steem.

As far as Bitcoin is concerned, I noticed that $11k currently seems to have good support, and I'm setting up a little swing trade with the hopes that Amazon Prime week (July 15 & 16) might give us a little bump up. It's actually pretty amazing how just one company can seem to affect the entire economy in the short-term.

Going forward, I think the 11k support we seem to have today will fall away from us when July is over. The 10k support will fall from there, and I'm betting that we "tumble" all the way down to $7500 come September. Somewhere along that line I think it will be obvious that the alt-market has bottomed, as these bots have overplayed their position and there is no more liquidity left to drain.

I've set up my flash crash orders from my last speculative post. If I get extremely lucky, I'll be 30k Steem richer when all of this is said and done. If not, I'll try to pinpoint when I think the alt-market has bottomed and buy in the hard way.

I'm expecting big movements at the end of the year just like we always get.

Summer is just a preview of what's to come. We are still almost a year away from the next Bitcoin halving event. This market is just getting warmed up. We'll probably all be laughing about these paltry movements 2 years from now. This is just a practice run.