A follower asked me to help him make trading decisions in the upcoming "altcoin-season".
I figured that even though everyone is talking about it, no one really knows what it is.
In the following post, I will explain what alt-season is and how to prepare for it.
People often divide the crypto world in two sides. Bitcoin and Altcoins.
It is regularly said that short term only one side can win. And if you look at this chart, you can tell that that is very true.
In my opinion, there is no reason that it always needs to be like that. It is mostly psychology. Many people start to act irrationally if they wake up to BTC falling and everything else rising. It then becomes a self-fulfilling prophecy.
But nevertheless, it will certainly happen again. Many altcoins, especialy ETH, NEO and LTC are very undervalued right now, so there will eventually be another alt-season.
How can you prepare yourself?
If you are a long-term trader (holding positions for more than a month) you simply need to diversify your portfolio. Spread your wealth into various coins so that short-term rallies can't affect you. If you can't decide between two coins, buy both!
Short-term or daytraders need to trust TA. Try to ignore personal opinions of you and of random trolls on the internet. Do the hard work and go home with awesome returns.🚀
If you have any questions or suggestions for future posts, feel free to contact me!
I hope you are still active, it looks like we have the exact same situation like last year.
Look up the ETHBTC, LTCBTC, and then the XRPBTC Chart. You see the common thing?
I'm hoping for an answer!^^