Institutions started to buy altcoins!



what's up everyone today we'll talk about alt coins and why possibly we will see alt Cohen season or maybe some kind of mini pump for alt coins sooner than we expected but before that let's look at the price of Bitcoin and briefly discuss what is happening recently first of all I think that maybe I underestimated this formation which I mentioned by parable that probably last video this and maybe actually it would play out because it seemed like it is formed and we actually had a breakout with relatively nice volume so maybe the target will be some around here I still would be very cautious about this pattern but it's really possible saying that despite the bullish behavior of Bitcoin happened recently with this pumps I would still remain cautious because even with the last one we didn't go above the previous high over here so we very well could repeat the same thing which happened in this area when we again saw the dump first one then some kind of retracement the lower low here is the lower low then some more move to the upside kind of second shoulder over here higher high but then after this after the higher high which could happen some around here we may see another drop so bears still have a chance that their hopes will play out and we'll see that area to be touched by the price maybe even $1,000 or something I wouldn't say that it is very likely to happen I still think that this correction is about to be over or surelly over but my point is that we should be very cautious and now the uncertainty level is rather high moreover if we look at the daily timeframe then you would see that actually the price action which we see right now is very similar to this one and according to that although we can go higher we can still see the decrease after that moreover if you turn on Bulger bands then recently the price did touch the base line of the ball Germans were almost touched it and had a pullback from that so we are trading in the narrow range right now between this support and the base line and in order to see a bit more bullish price action we of course would need to break the ball the baseline and to be in the upper part of the Bollinger Bands maybe test the baseline from the top once again so right now it's still kind of neutral maybe not bearish but still neutral not not really bullish behavior although of course we already made like almost $2,000 from the point of the lowest low during the whole correction but again we should be careful should look at both possible scenarios or maybe third scenario and speaking about the third scenario as usual when we are looking at the corrections for example previous one or one before the reasonable thing which you would expect to see after the lowest point of the correction is that somehow you would go within the cancellation period and then you will break it to the upside you have a higher high maybe have some sideways price action after that and then go to the new high and we were talking about something like seventeen and a half thousand dollars maybe even twenty thousand dollars but the point is instead of seeing something like that it is very possible that we will not see the higher highs or maybe we will see a higher high but then return back to the same like channel placed in the area of the current correction and despite we will not go even lower but we could make a quite long sideways price action in the same zone like twelve thousand dollars maybe thirteen thousand dollars and that would be quite possible and also not really expected scenario for most of the traders investors out there and at the same time this is interesting because this could be a possibility for the rise of altcoin sirs which we are talking about so if you remember we were considering the scenario that when the new pump of Bitcoin will start and will reach the new high maybe even new all-time high and then after that we'll see a massive correction maybe forty percent or more then during this correction and the period after that altcoins may actually outperform Bitcoin while before that they still sort of catching up but first it will be a higher price so the hype will be higher and at the same time the significant amount of the traders investors will start to cover their profits on Bitcoin and try to find some interesting scenarios interesting entries on out coins that will lead to the price of alcaman but at the same time maybe this actually could start right now it is not necessarily to be the same intensity maybe we'll see some kind of mini pump as I said but again if Bitcoin will start to move sideways then a lot of the traders out there will see okay it's not that interesting it's kind of boring right now so maybe we'll shall switch to out coins especially since the fact that we already have a lot of the profits on Bitcoin we can realize them with trying to catch some swings on alt coins and in this way al coins may indeed go higher and speaking about that we need to look at the Bitcoin dominance which actually acted very interestingly recently comparing with the price of Bitcoin so in fact I would started to drawing this some around here and surprisingly it played out so far so if it will go even further have a breakout we could see indeed something like 65% of Bitcoin dominance and this would lead actually to a lot of the pumps of alt coins although I am still quite skeptical about this formation despite the fact that it actually is playing out very nicely but the interesting point here is that if you look at the way of the Bitcoin dominance was evolving during the recent time with respect to the price of Bitcoin so for example here you see the price of Bitcoin is going up the dominance of Bitcoin is going up of course out coins cannot catch up people leave the positions from all coins to Bitcoin and mostly Bitcoin is rising alkynes don't rise similar thing here when Bitcoin is going down people are worrying that alkynes will go down even more and again Bitcoin dominance is going higher but from this point from the maximum point of Bitcoin dominance almost 70% we see that despite the price of Bitcoin is going down the dominance is also going down so it means that alt coins either stay at the same area dollar-wise or even outperform Bitcoin at some point which is very interesting so it's going it was going down during the whole period of the decrease in the price and some correction even after that and moreover even after some period of the reasonable behavior of the diamonds over here we see again some decoupling so you see the price of Bitcoin is going up now but the dominance of Bitcoin is going down so all coins are moving faster than Bitcoin to the upside and if you look at most of the huge out coins you would see that with respect to Bitcoin they are seemingly having higher highs higher lows they are drawing some potential rising formation and in fact despite you could find it for the most of the out coins it's still kind of dangerous to expect that this is the indeed the reversal because for example here on neo you see after the long period of the decrease in price to Bitcoin we see the pullback we see the higher highs we see the formation of this kind of triangle which potentially could be broken upwards instead of that we see even a bigger dump so the same thing may happen around here or our XRP also it seems like it has higher highs higher lows some widening formation potentially reversal but it happened so many times before and we indeed need to see some confidence some longer accumulation maybe a breakout of some key levels return some previous positions and after that we could say that ok we have some more confidence in the reversal of the altcoins right now but saying that there is a interesting point for the alt coins in terms of the investment perspective recently there was a report from risky investments and if you don't know grayscales is a well known bit coin and crypto investment fund with the relation with Brazil Bert and so on so they actually made this report recently and they showed some interesting data here not only the fact that they have some growth in their portfolios apparently because of the rise in the price of Bitcoin mostly but also they show some interesting performance in terms of the investment activities towards Bitcoin and alt coins so you see this is the cumulative inflow by different product the dark green is Bitcoin while in the beginning of the year there was some growth of the inflow recently it was pretty much stagnant however starting from June we see some rise in the activity of investments to altcoins especially a theorem which is continuing to go higher and this is just not accumulative but the absolute inflow weekly again here April it was mostly Bitcoin and started recently more and more out coins ether actually is almost like comparable level to Bitcoin which happened before it's actually quite huge I mean the absolute numbers is like five million dollars ten million dollars but considering the fact that the price of all coins in a theorem in particular is going down this is the interesting sign another one is a theorem classic you can find a little bit of X R P and so on and so forth and also there is a distribution between who is investing in those assets 84% is for institutional investors 5% for accredited independent for retirement accounts like 1% for family offices the point is institutions or at least those who are able to or interested in having the position in their fund they are starting to accumulate their positions in out coins of course mostly theorem but still it is representing the like an average out point out there so the one which most of the people will look at after Bitcoin so you wouldn't be surprised if you would see something similar with activity towards other out coin specially the biggest ones and speaking about the development in the space you also have something like the back launch actually on Monday well it will be a test launch and they don't have the CFTC approval yet but you know this is a political issues probably and I believe things will settle down eventually in any case this is the fundamental development and one of those moments when you can say buy the rumor sell the news I guess and at the same time we still have something like ETF in October so which is not that far away from now and you can expect that if it will happen in a negative way so SEC will not approve ATF but still probably the effects like negative effect of that will not be that dramatic on a bull market but if it will be a positive decision then it may initiate and you rise probably to the new all-time high higher than $100,000 I think it's really possible okay guys I hope that all of that makes sense and the market is becoming more and more bullish and positive so soon we'll see some gains not only our Bitcoin positions but so those out coins which we are holding for a while and still in a big losses but don't count on me don't forget that everything which I say is my personal opinion not a financial advice okay that is it for today I hope it was useful thank you for watching

15 thoughts on “Institutions started to buy altcoins!”

  1. I am pro Altcoin butI think Altcoin bull run has passes already.

    For example; on the last few months ONT went from 0.44 c to $1.85 and Ethereum from $90 USD to $350 USD . . . .

    ALTcoin bull run is done for now . . .

  2. GREAT video!
    PUNDI X TO THE MOON!!
    buy NOW hold for 2-3 years,
    you WILL make ALOT of money
    $$$$$$$$$$$$$$$$$$$$$$$$$$

  3. uhm greyscale very interesting , could they be one of the contributors to the price fluctuations up and sell bull and bear traps, there are not enough institutions in the market so one big one could swing things right or wrong ? great news for us retail hamsters but its frustrating to see miota up 10% down 5% BTC up 6% down 5%. I also dont get why if so many are investing in ETH why the price and market cap is so poor given where it was . What is the comprisson between ETH now and ETH in feb 2018 marcap and wheres all the cash gone :-(( good stuff keep it coming keeps us sane

  4. $bsv about to blow all alt coins away. 2GB upgrade coming in just days. Bsv out performing all coins in last few days!

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