Hi Mark, could you in your next post comment on the typical EoY cyclical movement of Bitcoin vs alts? Specifically as commented in last part of this article: https://cointelegraph.com/news/bitcoin-price-nears-final-hurdle-at-12k-before-bull-market-euphoria. I currently only hold alts and waiting for another good buy opportunity but if its likely they will be on a steady decline until end of Q4 I'd rather go for BTC and then sell to buy alts when things look better.
Hi Ollie. I don't put much stock in the EoY cyclical movement. I use the BTC dominance chart, it's forming a long-term pattern that's commonly found in many markets and assets. Suggests alt season around the end of this year. Catch my October 21 update https://cryptoiseasy.substack.com/p/bitcoin-and-altcoin-update-october
If you sell alts now, you're probably selling near the short-term bottom of the alt market. Yes it could go down further, but at the risk of missing another 5-10x move for some of these projects. You could wait until alts turnaround, then sell for BTC during alt season when the market's zooming and everything's popping off. Just an idea.
Next month I'll publish together something for readers about my approach to BTC/ALT diversification.
Hi Mark, could you in your next post comment on the typical EoY cyclical movement of Bitcoin vs alts? Specifically as commented in last part of this article: https://cointelegraph.com/news/bitcoin-price-nears-final-hurdle-at-12k-before-bull-market-euphoria. I currently only hold alts and waiting for another good buy opportunity but if its likely they will be on a steady decline until end of Q4 I'd rather go for BTC and then sell to buy alts when things look better.
Hi Ollie. I don't put much stock in the EoY cyclical movement. I use the BTC dominance chart, it's forming a long-term pattern that's commonly found in many markets and assets. Suggests alt season around the end of this year. Catch my October 21 update https://cryptoiseasy.substack.com/p/bitcoin-and-altcoin-update-october
If you sell alts now, you're probably selling near the short-term bottom of the alt market. Yes it could go down further, but at the risk of missing another 5-10x move for some of these projects. You could wait until alts turnaround, then sell for BTC during alt season when the market's zooming and everything's popping off. Just an idea.
Next month I'll publish together something for readers about my approach to BTC/ALT diversification.
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Thanks, that article answered it :)