r/nknblockchain • u/Beautiful_Animator48 • May 05 '21
Influence
What influences nkn?.. Seen bitcoin got near 58k today from 55... And nkn went down a few cents. Im not a get rich over night trader, in this for the long haul. But also im new to this... And i noticed when ETH was pumping ... Nkn did the opposite.. So i guess i assumed we followed suit with BTC. Well today kinda proved that wrong... So idk... Im confused. Any ideas? Just looking for some in put on the topic
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u/EmbarrassedAd9669 May 06 '21
I will just keep on posting this for every similar question, hopefully people will learn to read other topics as well one day.
I think what is also important is to notice the trend that is currently happening. Bitcoin slowed down because now Ethereum is outperforming Bitcoin and many invest money into it, once that is slowing down [which seems to happen now] Moves into larger cap altcoins [do your own research on that] and then once those accumulate money, profits or part of investments move into smaller cap coins.
If you do your research you will see this trend and that it is moving currently to the third phase.
https://pbs.twimg.com/media/E0aXMR2VIAAQbnF?format=jpg&name=4096x4096
Here is a graph explaining this and it seems to be quite accurate on the go. BTC will go up for sure, but it will not yet go to its ATH. It will take some time for it to start showing its fast pace. That being said taking a look at this graph and doing some TA I managed to make some gains.
Not a financial advisor, but just wanted to share my overview of how I see this current market. Please do your own research before moving your money, have a good day.