Switching BTC to ETH to FIAT for maximum profit
All of us whom have been trading crypto for approximately 1.5 years or longer have witnessed that, during the last phase of the most recent bullrun, BTC's value grew exponentially, shooting and reaching USD 20.000 for its all time high. What a lot of people do not realize is that after BTC hitting USD 20.000, the bullrun did not end. Congruent with BTC hitting its new top, (institutional) investors started securing profits by selling BTC, or by trading BTC for alternative currencies or ALT coins. The latter caused the ALT coins, which were primarily based on the ETH network at the time, to witness a delayed peak.
The purple / blue vertical line in the graph illustrates where BTC formed its first top INDIVIDUALLY. I wrote 'individually' with capital letters as it is seemingly important that ALT coins did not participate in this peak. I am aware that BTC made an even higher top not many days after the first top, but it is important to notice that BTC did NOT move by ITSELF, as ETH and ALT coins joined this upwards movement.
The red vertical line in the graph illustrates where ETH formed its top INDIVIDUALLY. Again, 'individually' with capital letters as this is of utmost importance, as this indicates the end of the upwards momentum of the overall market.
Although the above may not hold true for future events, it is very interesting nonetheless.
The purple / blue vertical line in the graph illustrates where BTC formed its first top INDIVIDUALLY. I wrote 'individually' with capital letters as it is seemingly important that ALT coins did not participate in this peak. I am aware that BTC made an even higher top not many days after the first top, but it is important to notice that BTC did NOT move by ITSELF, as ETH and ALT coins joined this upwards movement.
The red vertical line in the graph illustrates where ETH formed its top INDIVIDUALLY. Again, 'individually' with capital letters as this is of utmost importance, as this indicates the end of the upwards momentum of the overall market.
Although the above may not hold true for future events, it is very interesting nonetheless.
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