Bitcoin's bullish momentum has shaken off a lot of bears out of the market.
If bitcoin trades < $1500 and does not trade above $6500 in advance of that, Leah and lucid invest win.
Vinny Lingham, the co-founder and CEO of Civic, explained in a Twitter thread how important it was for bitcoin to decouple from the rest of the market to signal that the bear market was over.
9, 2019, Lingham was making the argument that the market was based upon sentiment and not fundamentals since every time BTC rose the rest of the crypto market followed through without any deep-rooted reason.
Lingham stated that the main indicator for a rational bull market will be set by bitcoin decoupling from other crypto assets.
Since May 6, 2019, bitcoin has consistently decoupled from the market compared to the top five altcoins by market capitalization.
Out of the top five altcoins, LTC could be the one that decoupled first from bitcoin.
The most recent data adds to the probability that Bitcoin tends to lead the market and sometimes it takes a greater period of time for altcoins to follow.
Bitcoin's most recent bull market started on Sep.
The end of the bull market for Bitcoin, Bitcoin Cash, Litecoin was around Dec. 2017 while for ETH and XRP was in January 2018.
Bitcoin breaks $6700, crypto market back above $200 billion
gepubliceerd op May 11, 2019
by Cryptoslate | gepubliceerd op Coinage
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