WARNING! Very impopular opinion!
NOTE: I am talking exclusively about BTC-ALT-pairings here, if you do not care about your BTC value when sitting with alts, then move on. USD-pairing will still do good as I think BTC will do good.
This chart does not provide any deep levels of information per say, just pointing out where I see we are in the Bitcoin move where the structure is the same as before.
However, this is a writeup on what I am doing.
I have sold most of my alts for BTC, because of the following reasons:
* We've had basicly 4-5 months of altcoins crushing it now
* Euphoric sentiment, even dogecoin reaching #4
* Everyone acting like geniuses when it comes to alts, everyone making gains, every youtuber going like "ADA TO 5$ !!!" (no offense to ADA though)
* We are in the part of the market cycle where BTC starts moving higher, and in this part of the cycle, BTC is crushing back the alts. (NOTE: THIS IS IN BTC-ALT-PAIR)
* I have checked endless of btc-altcoin pairings, and their structure of how they move are repeated once again, and most are at the very end of it, where many have already peaked, and its recent moves are simply a bounce before heading lower.
I have sold altcoins such as (at their recent peaks since 1-2 weeks):
ALGO
ALPHA
ARK
DGB
BAT
KNC
SXP
UNI
ZIL
Still hoping for a last push on the following before selling:
1INCH
BAND
DOT (see other idea)
KAVA
GRT
LINK
REEF
REN
There will be of course some alts that will perform good, but this move is for the majority of the alts.
There is also still some room left for a final push for alot of alts, such as ETH, it would not surprise me, it would also line up very well with the last BTC-dominance downward push before BTC takes over.
Also, for those of you who have seen "The Big Short", which I assume most of you have, this is my own "The Big Long", I am slowly conversing all my alts into BTC and also applying leverage to the BTC position (since 53k).
I am putting my money where my mouth is, unlike many people providing ideas here. The only thing worrying me right now is if Bitcoin would make a move which totally broke its structure.
And for those thinking about alts btc-pair like "Nah we cannot possibly go lower than X...", yes... yes we can. These moves are all designed to take your BTC, and this is my way of not letting the big guys bleed back my profits to them.
There is a possibility we would come back close to Jan lows on most altcoin btc-pairs in about 4-5 months, this would line up good with a possible BTC top peak, which could lead into the "grand finale" for alts. The last insane push before the music stops.
TLDR:
Bitcoin will outperform a majority of the altcoins in the upcoming months (alt-btc-pairings). Bring on the hate.
NOTE: I am talking exclusively about BTC-ALT-pairings here, if you do not care about your BTC value when sitting with alts, then move on. USD-pairing will still do good as I think BTC will do good.
This chart does not provide any deep levels of information per say, just pointing out where I see we are in the Bitcoin move where the structure is the same as before.
However, this is a writeup on what I am doing.
I have sold most of my alts for BTC, because of the following reasons:
* We've had basicly 4-5 months of altcoins crushing it now
* Euphoric sentiment, even dogecoin reaching #4
* Everyone acting like geniuses when it comes to alts, everyone making gains, every youtuber going like "ADA TO 5$ !!!" (no offense to ADA though)
* We are in the part of the market cycle where BTC starts moving higher, and in this part of the cycle, BTC is crushing back the alts. (NOTE: THIS IS IN BTC-ALT-PAIR)
* I have checked endless of btc-altcoin pairings, and their structure of how they move are repeated once again, and most are at the very end of it, where many have already peaked, and its recent moves are simply a bounce before heading lower.
I have sold altcoins such as (at their recent peaks since 1-2 weeks):
ALGO
ALPHA
ARK
DGB
BAT
KNC
SXP
UNI
ZIL
Still hoping for a last push on the following before selling:
1INCH
BAND
DOT (see other idea)
KAVA
GRT
LINK
REEF
REN
There will be of course some alts that will perform good, but this move is for the majority of the alts.
There is also still some room left for a final push for alot of alts, such as ETH, it would not surprise me, it would also line up very well with the last BTC-dominance downward push before BTC takes over.
Also, for those of you who have seen "The Big Short", which I assume most of you have, this is my own "The Big Long", I am slowly conversing all my alts into BTC and also applying leverage to the BTC position (since 53k).
I am putting my money where my mouth is, unlike many people providing ideas here. The only thing worrying me right now is if Bitcoin would make a move which totally broke its structure.
And for those thinking about alts btc-pair like "Nah we cannot possibly go lower than X...", yes... yes we can. These moves are all designed to take your BTC, and this is my way of not letting the big guys bleed back my profits to them.
There is a possibility we would come back close to Jan lows on most altcoin btc-pairs in about 4-5 months, this would line up good with a possible BTC top peak, which could lead into the "grand finale" for alts. The last insane push before the music stops.
TLDR:
Bitcoin will outperform a majority of the altcoins in the upcoming months (alt-btc-pairings). Bring on the hate.