How many times have you heard the mantra of various influencers that roughly reads: Bitcoin goes first, and after that, the money flows into Ethereum, then into larger Altcoins, and then into smaller ones? And is that true?
Of course not. This cannot be a general rule.
Let's look at the cases of significant coins from the last bull market that disproves this theory: Polkadot, Cardano, and Matic - Each of these coins had their ATH, in a significant period before or after Bitcoin.
The example of these large coins already shows that this theory is not correct.
Could anyone have known, on top of the previous cycle, that China would ban crypto or that Tesla would start selling its Bitcoin and that Bitcoin would drop? Nobody. And everything seemed to go to heaven.
Again we come to the point that you should have a plan and stick to it. Research your coins well and follow the market.
You probably read in my previous articles that 85% of people end up with no profit after the Bull Market and some of them even in a big loss.
Only 15% of people come out with a profit. that is the harsh reality. Most people do not make profits in the first two Bull Markets.
Many investors get carried away by the euphoria of rapid price increases, failing to plan on how to secure their profits. A crucial part of investing in any asset, including cryptocurrencies like Bitcoin, is knowing when to cash out. It's tempting to hold out for even greater gains during a bull market, but it's important to remember that what goes up can come down just as quickly. In the volatile world of cryptocurrencies, having a well-thought-out exit strategy is essential. Regularly taking profits at predetermined intervals can help protect against potential downturns and ensure that you walk away with your gains intact.
Knowing when to sell your coins can be a complex decision, often influenced by several factors. Some key considerations include the current market value of your specific coin or set, sentiment trends among collectors, and your personal financial situation. An acute understanding of the market is crucial; you must monitor price trends and news that might impact demand. It's also advisable to engage with the larger numismatic community, as this may provide insights beyond raw data. Remember, there's no one-size-fits-all strategy in deciding when to sell your coins, individual circumstances and intuition play a significant role.
Now, more than ever, every coin has its own story. The performance of particular altcoins often depends on a variety of factors including their unique use cases, market sentiment, and alignment with broader technological trends such as AI. So, while some altcoins may not have gained much traction yet, investors should not overlook them. It's crucial to research each coin's purpose and potential before investing, rather than banking solely on category hype. Just as Bitcoin is experiencing its moment in the sun, there may be lesser-known yet promising altcoins that are waiting in the wings for their turn to shine.
As the crypto market continues to mature, it's important to diversify one's portfolio and explore opportunities beyond Bitcoin, since a promising altcoin today could potentially become a major player in the future.
I hope you like this review and find value in it. Thank you for your trust.
That's all from me for today. I wish you a nice and pleasant weekend.
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Jenny ⭐
