Why Is BTC Hitting New Highs While ALTS are Struggling?
Hello SPIers, something I have noticed this crypto cycle is that BTC is hitting new time highs while the rest of the market scrambles to get back to the peaks they hit in May this year never mind new time highs.
Why is that?
We all know that BTC is the king of crypto and to many, it's the only true crypto with everything else ranked below it being a mere token. We've seen this year BTC ETFs being launched and as far as im aware, they already control over 1M BTC and that number is growing. These BTC are as good as out of circulation and I think this plays a factor in why BTC is performing so much better compared to the rest of the market.
Another thing could be BTC is the top dog and leads the pack with the rest of the market playing catch up after.
It's like dropping a stone into a calm lake and watching the ripples get bigger. BTC is at the centre, ETH beside it and HIVE about 20 meters away. When the stone hits the centre of the lake, the ripples hit ETH, BNB, and SOL fast but it can take months before the ripples hit HIVE.
Another reason is BTC is just the shit. It's the best crypto because it's the best crypto.
What things have you noticed happening this cycle that is different compared to previous cycles?
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|---|---|---|
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| Top XV token | @spinvest | XV |
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| RUG token | @rugem | RUG |
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Bitcoin is just the shit man. Wut is all this other silliness? Although they do seem to be such (after)effects of the giant Bitcoin (dominance). Love the drop and rings explanation as those ripples seem so true man. !BBH !DIY !DOOK
You just got DOOKed!
@pepetoken thinks your content is the shit.
They have 10/300 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
lol, i'd wrote and thought, better to show it with a ring thing.
BTC is just the shit
Hi, @pepetoken,
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@spinvest! @pepetoken likes your content! so I just sent 1 BBH to your account on behalf of @pepetoken. (10/100)
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You can query your personal balance by
!DIYSTATSI love BTC
There is soooo many alts, they all cant go up as much as previous cycles i think.
100%, that is true and I'd never thought of that. The ALT market is being spread thinner each cycle.
jepp
I hope it ripples down to my Hive Engine tokes also! lolz
🤞
I think it has to do with the fact that they know it is still early and BTC isn't even close to being done moving. Once they think the top is in, then they will start pumping money into alts.