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Crypto Insider Who Called the COVID Crash Reveals What’s Coming Next
- Investing educator David Bird, aka ASX Trader, remains optimistic about Bitcoin while expressing doubts about altcoins.
- Bird believes in Bitcoin's strength as long as its dominance remains high and the price stays above the US$80k range.
- He mentioned that most altcoins are in a bear market except for Bitcoin.
- For altcoins to rise, Bitcoin dominance must decrease, which is currently not the case.
- Bird emphasized that he will only invest in altcoins if they outperform Bitcoin.
- Geopolitical turmoil doesn't influence Bird's Bitcoin investment decision-making.
- He stressed remaining bullish on Bitcoin as long as it maintains levels above US$88k-US$89k.
- Bird discredited the four-year Bitcoin halving cycle and highlighted the US election cycle's impact on market performance.
- He mentioned that altcoins are still far below their 2021 highs compared to Bitcoin.
- Bird uses multiple charts to analyze the crypto market rather than relying on a single chart.
- He pointed out that the Russel 2000 index can indicate future altcoin performance based on risk appetite.
- The current divergence of the Russel 2000 from the S&P 500 suggests a low-risk appetite, impacting the performance of altcoins.
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