Samuel OskysBTC is roaming around the $11,500 region and looks to be dropping even more which is currently hurting the crypto markets, as many Altcoins are now trading down nearly 10%.
Although the recent bearish movement, the latest drop may be a positive thing for most altcoins, as it may start another bull run in the near future.
Bitcoin along with other major cryptocurrencies are trading significantly low. Bitcoin is down roughly 3% at its current price of $11,480, Ethereum is trading down close to 10% and Ripple close to 15%. But will this continue?
The popular answer would normally be “no one actually knows”, but according to Alex Krüger a cryptocurrency economist, he believes that “the current crash could be the end of the downtrend for Altcoins Vs Bitcoin and be the end of the bear market for Alts.”
Don Alt, another cryptocurrency analyst believes that the short-term damage could lead to positive price action in the mid-term.
Alt ratios have been going up when BTC went down and vice versa. On this most recent BTC price drop, a lot of alt pairs went down along with it. Decoupling is a good thing for Alts and in my experience often leads to their tops/bottoms. Short term pain – mid-term gain IMO.”
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