The top altcoins continue to follow Bitcoin bearish and bullish trends and none of them look to be breaking out from this trend any time soon.
Bearish BTC continues to bring all coins down
There’s no doubt that there’s not a single alt coin that can shake off the Bitcoin fall, but more to the point, what is going to save Btc and help the next price surge?
Upcoming BTC events
Over the past year, due to network sluggishness, and more to the point, the astronomical price of transactions, people that hold Btc are becoming restless with how Bitcoin is now being portrayed as a ‘storage of value’, which is humorous, of course, as it was never intended to be that, however, it is understandable why the Btc community are now portraying it as just that. Gone are the days of being able to use Btc as a means of payments!
So, what’s going to save the price? We honestly cannot see anything that will. With more people understanding, perhaps, that the real value in Btc has long gone (earlier speculators on the price), we can’t see any future in Btc – not short term at least.
Furthermore, with mining costs going through the roof and now coming to the same cost as the electric bill for an average American household, this is by far, not the greenest of coins, but maybe there’s one last saviour for Btc; once all coins have been mined – scarcity may trigger an upturn in price, but we’ll discuss this in another article later on in the week.
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