There are currently a lot of people who don't believe in an altseason.
Many think that the big money from alts is just a thing of the past. But in my opinion if you take a closer look it doesn't look so bad.
Because the process of Bitcoin and the altcoins is almost the same with only small differences. There is always a parabolic upmove followed by a sharp down correction. Once the bottom is reached, consolidation takes place before the price shoots up again.
As an example to the Bitcoin price, I could have opted for every altcoin, since they all look almost identical. But this time I chose Siacoin because I recently posted a new idea about it.
And as you can see on both charts, it's almost the same pattern. That's one of the reasons why I do not understand how people can continue to be bearish towards altcoins. That's what we call acting out of emotions and FOMO.
Hope this idea has given you a good view as I currently look at the market. Maybe it even helped you.
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For those who do not know me, here are a few bitcoin and altcoin trades from before:
Some earlier altcoin trades with targets:
Many think that the big money from alts is just a thing of the past. But in my opinion if you take a closer look it doesn't look so bad.
Because the process of Bitcoin and the altcoins is almost the same with only small differences. There is always a parabolic upmove followed by a sharp down correction. Once the bottom is reached, consolidation takes place before the price shoots up again.
As an example to the Bitcoin price, I could have opted for every altcoin, since they all look almost identical. But this time I chose Siacoin because I recently posted a new idea about it.
And as you can see on both charts, it's almost the same pattern. That's one of the reasons why I do not understand how people can continue to be bearish towards altcoins. That's what we call acting out of emotions and FOMO.
Hope this idea has given you a good view as I currently look at the market. Maybe it even helped you.
---------------------------------------------------------------------------------------
For those who do not know me, here are a few bitcoin and altcoin trades from before:
Some earlier altcoin trades with targets:
Note
Anyone who thinks altcoins are dying has probably forgotten that there have been even worse times in the past.When I posted crash charts for altcoins in May 2018, I was declared crazy. There were people who said I should go to the doctor. These were the targets I had:
XRP from $0.70 to $0.30,
LTC from $140 to $40,
ETH from $700 to $100,
XVG from $0.05 to $0.005,
OMG from $13 to $1.20
NEO from $60 to $17
At that time, I was named as the biggest bearish author. And surprise ... all targets were reached.
Now the same happens again. I say that an altseason will come and again I find a lot of comments that say the opposite.
I read things like 'there will never be an altseason again'. Do you know what this statement reminds me? When Bitcoin was at over $20000 and people said the price will never fall back below $10000.
I always wonder where these people buy their crystal balls to use the word 'never' in trading.
Note
**Of course I meant 'at $20000' instead of 'at over $20000'.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.