When Bitcoin is running, AltcoinsToujoursFollow | Midi hacker

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When the price of bitcoin rises, altcoins begin their altseason. The underlying data and chain metrics will not match the price movement. A good analysis will seem out of sync with the reality you see in the market. The price will increase even after the market turns against you. Screw – expect another season.

Mark

Publisher, Crypto is Easy newsletter. Writer # 1, Medium. Bitcoin author, analyst, commentator.

Three Truths and a Lie About Bitcoin and Altcoins – Truth # 1

When the price of bitcoin hits $ 100,000, altcoins start their altseason, and you are enveloped in the ecstasy of FOMO, the prospect will become harder and harder to find.

Social media algorithms bury bearish content because it doesn’t get as much engagement as the supercycle / only upwards. Either way, you will likely dismiss any bearish view as FUD.

The underlying data and chain metrics will not match the price movement. The price will increase even after the market turns against you. A good analysis will seem out of sync with the reality you see.

You don’t want to adhere to everything people tell you, but choose what you believe carefully. It’s easy to dismiss the truth when it doesn’t make sense or people don’t seem to agree with it.

Today, I am going to share a truth that too many people reject. Subscribe and stay tuned for the other two Truths and a Lie, which I’ll be sharing as a short series of posts in the coming days.

Truth # 1: When bitcoin runs, altcoins always follow.

If you are new to the market, you might think the fun and the money are in altcoins.

Once bitcoin starts working again, that will change. Its momentum will attract attention and investment. Everyone will beat the king and your wallet will be 50% behind on bitcoins because everyone will be selling their bitcoin alts to catch the pump.

People will call altcoins dead simply because the price of bitcoin is increasing at a faster rate. As a result, you will feel like bitcoins leaving altcoins in the dust.

Before you get too wrapped up in a particular outcome, think about the story. When markets are on the rise, an increase in bitcoin dominance always occurs before the altereason.

Check out this graph, which shows what percentage of the market is captured in bitcoins compared to altcoins. When the line goes up, bitcoin dominates the market. When the line goes down, altcoins dominate the market.

What are the shaded areas?

These reflect times when the price of bitcoin has gone up and its dominance has gone up as well. What happened every time the price and dominance of bitcoin increased at the same time?

Altseason followed in a few weeks.

When the price of bitcoin starts to climb and people start telling you that altcoins are dead, you need to start buying them. Altseasons around the corner

Subscribe and stay tuned for separate articles on the other two truths and a lie. Mark Helfman publishes theCrypto is Easynewsletter. He is also the author of three books and one of the top bitcoin authors on Medium and Hacker Noon. Learn more about him in his bio. Originally posted in Cryptowriter.

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