Many believe that alt coins will decouple from BTC eventually which means that the price action of BTC does not affect other crypto assets anymore. In fact, many believe that the decoupling is happening now and choose to ignore the price action of BTC.
To be frank, I believe that this is inevitable in the far future however as of now, like it or not, the price action of BTC still affects all alt coins. Therefore, it is imperative to take into account BTC and the alt coins that you are investing in.
BTC is the king that will determine the entire crypto environment, if it is bearish, alts coins will follow too. Regardless of the narrative in place be it metaverse, L1 or defi. As long as BTC does not provide an ideal environment then alt coins will not be spared too. Simple as that.
For crypto to succeed as a whole, the narrative that BTC can be an inflation hedge has to be intact. The recent inflation report has been pretty neutral hence the crypto market is currently experiencing a short-term relief rally. But don’t be fooled into thinking that this will send BTC straight up to 100k (be realistic anons), even if the rally goes all the way up to 50-60kish, the whole market can still be considered bearish if BTC makes a lower high. So a good way to protect yourself, is to be ready to de-risk and take profits when BTC is approaching 60k, especially on your alts.
Moving on, just wanna share some good calls that has been shared here.
- $ROSE > new ATH recently! Beautiful indeed.
- $FTM > $3.11 currently, 50-60% up currently
- $CRV > made a new ATH recently and making a comeback currently
- $NEAR > new ATH too
Currently holding onto CRV and FTM, hopefully it will hit my valuations kek.
Of course, there are losers in my portfolio as well. Which includes $WILD and $AURY but I have mentioned that I strongly believe in these 2 projects and that their time to flourish will come sooner rather than later, just gotta be patient.
To succeed in Crypto, you have gotta be quick and patient, be it in taking profits or rotating. So set a realistic target, wait for a narrative to run it’s course, exit. Repeat. Hardest part is always sitting on your hands and doing nothing. Trading is never easy, 95% lose because they ain’t patient or quick enough. So, in order to succeed, you have to be different (Still learning).
Rambled way too much, thanks for reading, gotta start to be more disciplined with my studying schedule or I wouldn’t be ready for placements.