Analyst: Altcoin Downside Extremely Limited as Bitcoin Remains Stable

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Bitcoin has been stable in the time following its $13,800 rejection, with bulls gaining some momentum as the cryptocurrency flashes continued signs of strength Although it is not showing any overt signs of weakness at the moment, altcoins have been capitulating throughout the past few days and weeks, with many posting immense losses Analysts are now noting that altcoins may be in the process of forming mid-term bottoms One trader is noting that downside on smaller tokens is “extremely limited” at the moment This means that today’s intense altcoin sell-off may have led many of them into oversold territory, meaning that a strong relief rally is imminent Bitcoin has been garnering significant amounts of investor attention and funding as of late due to its overt strength. This has come about largely at the expense of altcoins, which have been caught within unrelenting downtrends that have led investors to see intense…

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