Bitcoin 

BTC

$20,708

 has broken back below the psychological support at $60,000. While this seems to be negative in the short term, the price action has continued to mirror its movement in 2017. If the similarity continues for the remainder of the year, Bitcoin bulls may be in for a party.

PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, recently proclaimed in a tweet that the second leg of Bitcoin’s bull market has begun. If Bitcoin’s price action continues to follow the S2F model, the analyst believes a rally to $100,000 to $135,000 may be possible by the end of the year.

Although Bitcoin garners the lion’s share of attention, cryptocurrency exchange Okcoin said in a recent report that institutional investors’ appetite for non-Bitcoin crypto assets has been growing. The report said that 53% of the purchases by institutional investors in September were in altcoins.

Is the current fall in Bitcoin a buying opportunity or the start of a deeper correction? How are the altcoins expected to react? Let’s analyze the charts of the top 10 cryptocurrencies to find out.