Bitcoin has surged toward $57.251, then why alts are going down ?
That's because bitcoin dominance's slowly going back up, money's flowing to BTC. Or in other words people are selling their alts and buying BTC. When that happens, altcoins tend to underperform.
If we see altcoins market, it has been going down since Oct 10.
Using fractal, I'm guessing bitcoin dominance will rise more (blue square). And when that happens, altcoins will underperform. If Bitcoin could get to ATH, there's a chance for altcoins to go parabolic. But, if Bitcoin goes down and retests 0.704 Fib, altcoins will bleed more.
- BTC goes up -> alts go down
- BTC goes down -> alts go down
- BTC goes sideways -> alts go up