Bitcoin and Ethereum are constantly testing new support levels, but observant investors may have noticed that a large number of altcoins are not following suit, which is an intriguing signal.
To avoid misleading anyone, let me offer a few general observations. The first scenario is that Bitcoin and Ethereum bottom out and rebound, while altcoins quickly rebound and usher in another wave of price increases.
The second scenario is that Bitcoin and Ethereum experience another sharp drop, leading to a complete collapse of altcoins.
These are all possibilities, or probabilities, based on past experience. In short, altcoins not following suit is a positive sign and worth considering.
However, one counter-argument is: "The mainstream cryptocurrencies just haven't fallen enough yet."
So, place your bets, young one!