ALTCOINS: Time to convert some Bitcoin to alts.
The Altcoin market has been noticeably underperforming against Bitcoin since almost the start of the Bull Cycle. Even though both are currently testing the support level of the 1W MA50, Alts (left chart) are closer to the 0.618 Fibonacci level of the prior ATH, while Bitcoin is closer to the 0.236. The lagging tone was set since January 2023 when Bitcoin crossed over its 1W MA50 and formed a Channel Up while Alts stayed under the 1W MA50 and formed a Channel Down. Later the Bitcoin ETF euphoria and then its acceptance, naturally helped Bitcoin more (capital inflows) than Alts.
This is not the first Cycle where we see alts lagging, the underperformance was evident in both 2019 and 2020, with Bitcoin trading considerably higher than the 0.5 Fibonacci level, while Alts traded under.
This underperformance though is an opportunity in disguise and it may be time for investors to convert some of the Bitcoin gains to alts for greater profit % in 2025.
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This is not the first Cycle where we see alts lagging, the underperformance was evident in both 2019 and 2020, with Bitcoin trading considerably higher than the 0.5 Fibonacci level, while Alts traded under.
This underperformance though is an opportunity in disguise and it may be time for investors to convert some of the Bitcoin gains to alts for greater profit % in 2025.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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