Over the last few years there were periodes that Bitcoin and alts were positive correlated and periods that they were negative correlated. I see most alts as in a bubble and BTC undervalued. I think because of this the correlation will break again soon.
RE: Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin
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Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin
I am not sure BTC is undervalued until it starts to scale. Once LN is up and fees are back down to <5$ I would say it is undervalued. In reality, it is more or less unusable currently.
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Yeah I agree, most of the alts are way too overvalued, however, think that this alt mania will continue for a couple months.
Here's a powerful technical analysis on Bitcoin Gold:
Bitcoin Gold (BTG) - Analysis (162% POTENTIAL PROFIT) https://steemit.com/bitcoin/@benkalashnikov/bitcoin-gold-btg-analysis-176-potential-profit
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I'm scooping up Bitcoin on this dip.. I like quite a few alts, but I agree with your overall statement that alts are overvalued.
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