and other altcoins? Just trying to see if there is a direct or inverse trend of prices, etc. Cryptos are slowly become more recognized by people at least in general news with increased media covering Bitcoin and wondering if it helps a project like Safex, or does Bitcoins news take too much of the spotlight compared to other block chains?
It takes the spotlight and drains the marketcap from alts as people sell in FOMO for Bitcoin. Don’t worry it is temporary, My TA says BTC will keep rising, until the fork, my TA says $7500 so I think it will hit around there, safex around 100 satoshi at the time.
However this is temporary and Bitcoin will correct itself after this date.
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Looking at Subreddit threads for many of the altcoins, including SAFEX, it would appear that the rise of BTC is creating downward pressure on the altcoins prices. However, whenever an altcoin meets a deadline on its Road Map and delivers, it immediately is rewarded, regardless of BTC price or movement, with a price rise.
BTC is the only coin in the marketplace, imo, that has a Use Case and is delivering on that use case, for BTC it is a store of value and a movement of resources. It also, as aforementioned in this thread, really does well with Technicals - the Fibonacci movements on BTC have been predictable eight times over the past, roughly, three years in terms of Retracement in an Uptrending Market. (Arguably, one could say that with a 21M coin supply, BTC will never enter a true down-trending market again, as it would need to retrace to below $1300, as of today, to do so.) When you can count on an investment to perform that predictably with Fibs and other TA, it is very difficult not to invest in it.
SAFEX, and other altcoins, will need to develop their unique Use Cases, deliver on Road Maps, and build a strong following, in order to maintain any semblance of similarity to BTC. This is far easier said than done. SAFEX is probably in a solid position, however, because it never truly broke-out of its steady plodding. Yes, there was a spike back in July/August, but that has evened out and the coin has been trading in a range for the past quarter.
If SAFEX meets its Alpha for Chille, and continues to deliver on the Road Map, it will begin to separate itself from the other coins. It will not be another BTC, but it can certainly carve a niche for itself.
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Wait until bitcoin market cap reaches fractional reserve requirements of major currencies. You’ll see that crypto and fiat currency can’t be friends.
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Step back a moment. Which government is going to enforce that on a coin that has no country of residence,
I don’t think price is particularly important. Solid use cases, deliverables, use, and adoption are far more important.
With success in those areas the price will naturally be reflected in the coin or token.
Especially with the bitcoin, the problem comes from within: Its majority of hype-investors. Not governments.