With the rising price of Bitcoin, it is very probable that alts will follow. In any case I just wanted to point out a few observations that can potentially indicate a bearish short term:
1) Markets are going up on following a Biden win of the US elections, but things may get ugly if the scenario becomes unstable due to the court cases with the allegedly "fraudulent" votes, if things get in favor of Trump.
2) Covid Lockdowns are being forced again and we don't really know if the health situation will get better as a result.
3) Winter is coming. (people cant really differentiate between a cold/normal flu and covid symptoms, without testing. And even Covid testing is not statistically accurate.) And they can panic easily, and if they do...
4) 2020 had many surprises and more can follow. (hunch)
5) Even though the economy does not seem that hit in general, because of the enormous stimulus of the governments, goods and products have not been produced like past years, because of temporary unemployment.
6) Fear is more powerful than greed in terms of human emotion and it can escalate quickly.
7) Even though the covid Vaccine is out, it is 90% effective. (who can say we are not in the other 10% and how can you prove it?)
8) Look around you... Does it feel better than before Covid?
On the positive side:
If nothing "out of ordinary" happens, we can expect a healthy correction of the crypto markets, before shooting up. Market is a cycle and does not just shoot up.
Alts are getting use cases, like health monitoring, digital ID-projects, banks are looking into CBDC (central bank digital currencies). This time it is not just pure speculation like 2017. 3 years have passed. Things change.
If CBDC are pushed, some governments will be looking to the private sector for implementation of CBDC (because they lack the technological advancement, on which the private sector has been working since many years).
Alts should not be named alts at all, because they have strong foundations and projects going on and roadmaps.
