It's hard to ignore this massive bull breakout in Bitcoin, as it viciously retraces its losses from this weekend. The question is what is the better investment at this point? It is hard to conjecture getting in the way of Bitcoin, but with a rally that hard, it is due for a pullback. The altcoin index, on the other hand, is just starting to pull back from its massive decline, indicating that Altcoins are undervalued at this point, but catching up. LTC also had a breakout (as I predicted this morning), but ETH still hasn't gotten the memo. At this point, I'd consider taking some profits from Bitcoin or Litecoin and looking to Ethereum as the next altcoin to get the memo.
As you can tell, I've relied heavily on my altcoin index and spread indicators. You can get access to them too at quantguy.net. Just sayin'.
As you can tell, I've relied heavily on my altcoin index and spread indicators. You can get access to them too at quantguy.net. Just sayin'.
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