Digital Laggards

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When $BTC (bitcoin) was at $3800, I did something very un-Tim-like and (1) said something nice about cryptocurrencies (2) made a long call. Specifically, I said bitcoin would head to $6,000.

I was right………but not nearly “right” enough, as we’ve even exceeded $7,000, thanks, I suppose, to the US/China relationship falling to pieces.

slopechart BTC

Interestingly, other cryptos have lagged badly. I’m not sure if this means that (a) they are a buying opportunity since they will ‘catch up’ or (b) it only pays to focus on the blue-chip bitcoin, since all the others are garbage cryptos.

In any case, you can see here how, yes, they tend to track each other, but bitcoin is definitely the king:

slopechart BTCETHLTC