Bitcoin dominance may start to reverse here, if so would see many Altcoins get steamrolled. Right now im buying spot dips on BTC, ETH, and strong DeFi related projects. Otherwise recommend caution!
yeah, Altcoins season in April and May, crazy bubbles. BTC has been tanking while Altcoins might/should tank more as usual after Altcoin holders start to realize "oh, no, we are going down, the bear".
wizardfromspace
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@Hamil2021, yep while that is a scenario I am also considering, I do think we could get another DeFi Summer and if that is the case it may really be a moment of decoupling from BTC market movements. In July, Ethereum will have the EIP upgrade that will make it deflationary, that is going to increase demand big time. Personally, I would derisk exposure to any Altcoins that do not have a DeFi use case.
UnknownUnicorn19653280
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@dExplainDOTcom, Thanks for the advice; I'll keep eyes on DeFi. : )
HelloWorld736
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@dExplainDOTcom would Reef be a good option?
wizardfromspace
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@HelloWorld736, yep I think cross-chain DeFi projects are prime to grow seeing as we have ecosystems emerging on Polkadot/Solana/Binance Smart Chain/Cosmos and no longer just on Ethereum. So Reef Finance definitely has a use case.
Lucid_Liquidity
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MATIC or POLYGON whatever it is called is getting use to help ETH be more efficient and bring down gas fees. it's been pumping.
wizardfromspace
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@Lucid_Liquidity, agreed Layer2 tech is going to be very interesting during June/July imo. Polygon's ecosystem is currently exploding and looks like it might win this L2 race? But there is ALOT of other players to consider: Loopring, Optimism, Arbitrum, Starkware, xDaiChain, Skale Network. Not really sure how that will all play out, will they all expand/grow or will a couple come out on top? So right now i'm watching, but what I do believe is that the expansion of L2 is bullish for all the DeFi blue chips: YFI, CRV, SUSHI, UNI, BAL, SNX, ALPHA, AAVE... to just name a few.