We have definitely seen this behavior in the past during Bitcoin moves higher. I like to think of it as the vacuum effect a Tsunami has prior to the water coming into land, it sucks all the water out to sea. In the same way, the alt coin money gets sucked into Bitcoin, but then afterwards comes raging back even stronger!
Oh ya, you know I took advantage of this little altcoin sale. Its a flash sale, Everything must go!
Great analogy!
Great analogy indeed!
What are your opinions on which cryptos will be surging back strongest?
I'm thinking ETH could see a nice rally from the resulting flood coming back to alts - considering it appears to be in pretty undervalued territory at the moment.
I do like ETH here especially as it has been hit hard lately with bad press (ie. hacks, rumors) I'll be posting my Top 10 for this week soon!
I think the big ones will be ethereum, bitconnect tokens, and maybe golem because those are ones with real projects behind them, I don't think that there is much hope in coins that just survive for being fast, like dash or litecoin. Those coins are testnets for bitcoin, they will rise when there is a debate and new technology needs to be added to bitcoin.