

We've been here before with false market booms and wild fluctuations in price action as Bitcoin either skyrockets or drops like a stone, but I think we're reaching a real milestone as BTC approaches the $10k mark.

At $10K (or just before it) I believe that institutional investors and a large portion of the market will take some profits. Sure, where next after $10k? If you hold BTC, are you going to expect it can continue increasing in price straight to $15k without a significant set of pullbacks?

I think many traders will be looking to alts to keep gaining as Bitcoin consolidates ready for it's next big push. We've seen some fairly big investments going into Ark during these times previously too.

Below is an image very roughly showing the correlation between BTC pullbacks and Ark all-time highs (ATHs). Of course it's not a perfect match, but you should see that the most major peaks in Ark price have been during times of either instability or direct sell-off within BTC.

Many altcoins show this same pattern as they are of course directly linked to the price of BTC as that's how they are bought and sold in most cases, but Ark has a couple of things in the roadmap coming up that might just give it a bit of an edge when the news is doom and gloom.

Firstly the Mobile app is almost ready with many suspecting that only approval from relative app stores is required. Secondly and most importantly! The foundation of the business entity is very close to completion with France announced as the chosen jurisdiction

Asides from these two great bits of news that will be forthcoming I'm sure, the Ark team have been putting all focus on product quality and business development rather than hype and news articles. That gives me a lot of confidence that the groundwork is being laid so that the products can stand on their own and throughout any scrutiny that may otherwise topple many projects.

Again, returning to the charts. I think there are patterns from each wave of ATH that repeat for Ark quite consistently as shown below. One thing that seems to stand out is that I notice Ark price can drop way below the previous ATH as the next wave builds up. It seems to dip below the previous ATH and receive a kind of cup pattern that generally looks to form over a month. In the latest action however, I think that the pullback has been much more dramatic that previous ones, so perhaps this could precipitate an earlier/shorter cup pattern before the next increase?

I'd love to hear what other people think will happen with BTC, ARK or any altcoins in the short, mid and long-term views, so please comment below or upvote and share if you'd like to discuss this or any other cryptocurrency related topics.

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