In our last article we discussed the possibility that Bitcoin has started its run to our next long term targets of $65K and above. Within that article, we provided general guidance regarding what we’re looking for to suggest the bear market is over.
We want to turn now to alt coins. If you are not familiar with the term “alt coin,” it generally applies to all coins that are not Bitcoin. Often, the term is synonymous with the 100s of volatile small cap coins, many of which are junk assets. However, some have elevated to regular use, and have solved problems that Bitcoin cannot. In fact, some transact at a much higher rate of Bitcoin. Based on the action of many of these charts, they seem to be leading our larger cap coins higher.