2018 Lore: Nervous Outperformance This is one of those trades that's seared into my brain. Anyone that was long crypto in 2018 remembers exactly where they were the day BTC broke the $6K support. I was visiting family and irresponsibly long XLM. We were so far into the bear market that BTC had basically flatlined. The $6K support was almost a year old and BTC had traded in a range of only +/- 4% for two months. The more BTC flattened, the stronger XLM got. And then one day, everything failed. 30 days of nonstop pain. BTC: $6.2K -> $3.2K XLM: $0.28 -> $0.09 (eventually $0.025) We're in a weird cycle. It's hard to say whether BTC is bearish or just taking a breather, but we can confidently say that that altcoins are not bullish. We do not want to see continued outperformance in a small number of alts while BTC, ETH, and rest of market struggle. If history rhymes, this is a bad omen.