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Eric123

Epic Pennant on BTC Chart

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https://www.coindesk.com/bitcoin-mining-power-hits-new-high-as-half-a-million-new-asics-go-online

As per this Coindesk link.

Looks like Mining firms demand for additional ASICs is outstripping supply. 

The article says that there have been about $1billion has been spent on new kit.

Is that an indicator that BTC is going to be even more popular ergo the price rising enough to justify purchasing all this additional mining capacity ?

 

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Still in the same pattern.  LTC is struggling not to break out.  The tension mounts.

@Molten  I think too much good news has been coming out lately for bitcoin not to break to the upside.

IMO - XRP's chart is basically irrelevant.  Bitcoin is dragging everything along and when it goes up it will give a boost to everything.   

You guys know my opinion.  ALT season doesn't start till the very end of this year at the earliest and most likely it will start next year.

9 19 19 btc.png

9 19 19  xrp.png

9 19 19 LTC.png

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I'd argue that XRP is due for a minimum of 100% upside correction. It just took too much beating the past year to the point that it is HEAVILY oversold. Eventually, the price will catch up with the fundamentals. Its only a matter how long you're willing to wait for the inevitable. 

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4 minutes ago, MQB said:

All major altcoins broke out.

Is this a legitimate altcoin rally or just a short-lived periodic fakeout?

How far will it go?

If you believe the technical indicators, this is a legitimate break out.  I have been calling the reversal towards alts for the past few weeks.  I expect this to continue for the foreseeable future.

Goldilocks scenario is BTC keeps grinding stationary while alts pop upward.  I am looking for XRP to hit at least 10,000 sats before it's all said and done. 

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56 minutes ago, TheXRPNinja said:

I'd argue that XRP is due for a minimum of 100% upside correction. It just took too much beating the past year to the point that it is HEAVILY oversold. Eventually, the price will catch up with the fundamentals. Its only a matter how long you're willing to wait for the inevitable. 

XRP is easily due for a 100% correction. I agree.

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