Bitcoin Holding Strong @ New Support of 5K USD After Hitting A New Cycle High of Near $5,500...
As most alt coins are taking a big hit Bitcoin is holding strong. We saw a nice test of our new support which held up. A correction is needed to sustain a uptrend and is healthy for the growth. I expect another test of $5,500 in the next couple of days. Above is the one month BTC chart where we are up 31% in the last 30 days.
As for alt coins from my past experience of the last bull market, any time BTC makes big moves up or down the alt coins value drop until BTC price stabilizes a little bit and that is when alt coins run and we see some nice gains across the board. The price of BTC is important for all alt coins also as they are still heavily tied to BTC.
Drop a comment let me know what you expect next for BTC lets keep the dialogue going in the comments.
I am not a financial advisor this is just my thoughts from my experience in the crypto space. Always do your own research before investing in anything.
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#Bitcoin #BTC #CryptoCurrency #Crypto
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