Alts Giving a Modest Bounce But Volume Lacks
Well it is nice to see a little green out of the alts the past 48 hours, but volume is lacking so it may just be sellers tacking a break as opposed to buyers coming in.
Taking a look at some bigger alts...
Looking at LTC you see volume is lighter than usual and a little bounce should not be of surprise as price had sold off 5 straight days.
I do like that this bounce we create a higher low from that bottom around 80. Either way, nothing too exciting going on.
Ethereum range bound
Ethereum has been bouncing around between 200 and 230 roughly for a little while now. An uptick after touching 200 yesterday is also not much of a surprise, volume is also very light on this up day.
Action is muted
At this point I'm waiting for the alts to do something, the market is rather quiet otherwise.
Greetings friend @scaredycatguide.
It's funny how it sounds, right?
Really a single movement of capital of the great holders of cryptoassets is enough to end all this tranquility.
I have always thought that they are the puppeteers that move the threads.
All best, Piotr.
The volume (or lack of) seems to have been an issue for a really long time... whether it's Steem, or the other alts. It's like there's this subtext that everyone is taking a "wait and see" approach and are sidelining themselves.
Either that, or the "novelty" of cryptos has simply worn off... and this is "the new nromal." Which would be disappointing.
Yeah, also as odd as it is all the money seems to be going into BTC or back into tether (stable coins) Bitcoin dominance is around all time highs, at some point money will flow back into alts. Not all of them though, many will never rally again, just ones with real uses cases.
It's quiet.
Too quiet...
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Meh, ethereum is too mainstream to be an alt. It's like grandma to BTC's grandpa :)