Crypto Withdrawal Analyst Says These Altcoins Will Influence Hardest When Market Finds Bottom

Popular crypto trader and analyst says three altcoins will roar back to life once Bitcoin reaches its bottom.

The analyst, better known in the industry as Flood, tells his 87,000 Twitter followers that he is optimistic about BTC, but remains wary of the short-term path of its front knowing that many large investors have already placed their bets and entered the market.

“These are the levels I’m looking at. If $ 17,400 breaks, I think we are still bullish, but deriv v spot creep as well as bigger players already bought makes me err on the side of caution at these levels. I want to avoid being cut before we cut $ 20,000. “

Source: Flooding

Flooding is correct it is anticipated current rating of the broader crypto market on December 4th, before Bitcoin began its move to a recent low of $ 17,638.

Looking ahead, the analyst says he expects three altcoins to surge once the market rebounds.

Flooding he said traders should stick to the basics when assessing the market.

It warns against getting too caught up in complex technical trades, especially in the volatile and cryptic world of cryptocurrency.

“Whenever I get bored and try to make very complicated, model-based crafts, some 20-year-old physics degree drafted for me is when I tend to make the most money. Markets, especially crypto, are very narrative driven and tend to trend hard or not at all. ”

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Featured Image: Shutterstock / Tithi Luadthong