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Are BTC whales making waves to shake out as many tokens as they can? LTC tracks ALT volatility.

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@ecoinstats
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It is incredible to watch these run ups and sell offs, it seems alt season has begun, but wait first another crash.

This after we just posted last night about a huge push up on BTC. This morning, Coindesk reports this partially the result of a short squeeze on BITMEX, when people who had predicted that BTC price will drop are forced to liquidate their losses.

Once the squeeze happened, it took about 12 hours, but the market crashed back down to about 9400.

These strange market movements lend themselves to grid and volatility trading. (We are using BitsGap) In some ways, it seems like the derivatives markets around BTC is larger and more influential than the actual 'physical' exchanges.

Remember: 'Buy low, Sell high'

Image From CoinDesk.com

Alts have been starting to pump against bitcoin, and we are watching carefull how promising projects and markets respond. What we think is safe to say is that Alt Season has begun, and all projects, including HIVE and STEEM, will have to compete for attention across a worldwide landscape of promising crypto implementations.

Below, we see the LTC/USD chart from Bittrex.

As we can see, the route to which an alt like LTC can gain 1% over the week can be like a roller coaster!

This is not advice. It is history.


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Posted Using LeoFinance