Cryptocurrency Market Cap excluding Bitcoin (TOTAL2)
Updated
Whilst there is a correlation between bitcoin and alt coins, I think it is important to remember to analyze each separately from time to time. The index is currently testing the support around 60B, which coincides to the 23.6% fib from the last major wave. I have considered many outcomes, but I think the two black arrows shown are the most likely to occur. The consolidation from the last major wave looks very nice and price action is strong. Retail predictions of the market have in my opinion reached a critical bearish view, which adds to my bullish position.
What will drive the increase in alt coin price?
- FOMO for the alt coin season.
Will shit coins die?
- Yes, I foresee many coins dying and their value shifting to alt coins with greater potential.
How do I know if an alt coin is a shit coin?
- DYOR! There are different reasons for a coin being labelled as 'shit coin', but at the answer is nobody knows for sure.
What alt coins are safe to invest in?
- None. The alt coins that I choose to invest in are Litecoin (LTC), Binance Coin (BNB) and Icon (ICX). The former is a higher risk, but also a much greater reward.
Not financial advice, DYOR!
TIMMY!
What will drive the increase in alt coin price?
- FOMO for the alt coin season.
Will shit coins die?
- Yes, I foresee many coins dying and their value shifting to alt coins with greater potential.
How do I know if an alt coin is a shit coin?
- DYOR! There are different reasons for a coin being labelled as 'shit coin', but at the answer is nobody knows for sure.
What alt coins are safe to invest in?
- None. The alt coins that I choose to invest in are Litecoin (LTC), Binance Coin (BNB) and Icon (ICX). The former is a higher risk, but also a much greater reward.
Not financial advice, DYOR!
TIMMY!
Note
Bitcoin seems to have bounced strongy and printed a nice support zone. If there was going to be a #ALTSEASON it would be soon. I predict a period of lateral trading for bitcoin and fomo induced bull runs on some major altcoins.My strategy is simple, when everyone is bearish, price is low and everyone calls you crazy for buying, that is when I buy! Reverse the conditions and it is a nice time to sell. I am rarely all in and prefer to buy in multiple times over weeks whilst the price is still falling. Again, reverse this rule for selling. I am not perfect, but nor is any truthful person
Goodluck all!
Trade active
Could be the last chance to invest in the major alt coins at these prices before the next major move up.
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