No ALTCOIN SEASON for us
Despite all the time that some of us have been accumulating altcoins, it seems that the arrival of the long-awaited ALTCOIN season is going to have to wait a little longer.
I posted this chart 2 months ago already:
During the past week BITCOIN has broken the resistance that formed the 200 Weeks Moving Average (200WMA) and, most likely, this will become medium-term support.
In fact, today we are at the very same level of dominance that BITCOIN had at its maximum at the end of 2017, around 70%.
Just one month later, BITCOIN lost 48% of its dominance, leading to the explosion of ALTCOINS that, consequently, obtained meteoric gains.
The difference is that, at that time, BTC dominance was already in clear decline, for more than 10 months already. Today, however, this is not the case. BTC has broken the downtrend trendline and also, as I said the 200WMA.
My reading is that BITCOIN is still the priority in terms of accumulation today, and it will be for quite some time.
However, it is possible that this would be a golden opportunity to continue accumulating altcoins, especially those with large capitalization, except RIPPLE of course 😝, and also to make a good bag of those crypto projects with good fundamentals and applicability. So, I see this situation as a present for us.
The altcoin season will arrive once the large corporations stop accumulating BITCOIN, then they will pump the rest of the market.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
It gives more time to accumulate low prices alt coins, which is good news for the not yet prepared ones (including myself).
Be thorough in your research, too many alt coins have no real value, and I’m not talking about price.
Good luck too all.
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Which altcoin do you accumulate?
Except BTC I'm holding ETH / BNB / SNX / XVS / ADA / EOS / XLM / TRX / YFI / NEXO / DOT / NEO
Planning to buy some KSM.
Indeed also holding some HIVE / LEO / SPORTS
And let's not forget my best performer during these last days: XRP :D
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I really feel like the SEC was quite purposeful in their timing of the lawsuit against Ripple. It really feels like it was a coordinated effort to halt the current bull run. Maybe not permanently, but they definitely are putting some speed bumps on the road.
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Let’s give some time, for the moment BTC is holding
History quite often repeats.
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'Alt season' cancelled. DeFi season is 2020-2022 hehe.
I also think it will inevitably come once bitcoin begins to ease off, perhaps as early as February
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Bueno... yo el 90-95% de las que tengo estan generando en stake... supongo que eso tendra premio el dia que por fin suban y tendre mas que si sube ahora.
Y para mi esto confirma mi idea de BTC.... 35.000$. Creo que, y esto es ya aventurarme un poco mas aun, en 35.000$ se finalizara la primera onda de un impulso de rango mayor. Estaria bien... 🤓🥳🤩😎
Nice analysis!