If Bitcoin goes parabolic, it will drain altcoins again.

11 בדצמ׳ 2017

Just a friendly reminder that if people think Bitcoin is going to the moon, they will race to convert their altcoin positions and deflate the entire altcoin market. This is what usually happens when Bitcoin has a nice rally, and it correlated very strongly with the parabolic movement on Thursday. I think that race will begin if BTC breaks 1.0 resistance with enough momentum, people will begin to panic and liquidate everything they can to catch the ride. The price will accelerate, and bearwhales might move in to counter the momentum with massive sell walls. If they don't reverse the tide before GDAX hits a new ATH, things are going parabolic again, and altcoin market will crash hard.

Either way, expect some volatility. Be prepared!