Tiny altcoins usually go up at the end of the cycle (2013, 2017, 2021, etc.). For most of the cycle, bitcoin and the bigger coins outperform. We can see bitcoin reach a new all-time high while tiny altcoins continue to bleed. I did manage to watch this yesterday. I think Bob is right, bitcoin won't do much for the rest of the year. He's the guy that called the bitcoin bottom in January. Lots of goods news to come in the future, but in the meantime I think the key is patience. Even if the Fed started lowering rates today, it will take another 12 months before that stimulus is felt.
I plan on doing more of the same, stacking BTC, ETH, & DOT. Also thinking about buying TSLA again, I don't see anyone being able to compete with them now that interest rates are higher. Any new capital intensive business will find it nearly impossible to stay alive in a high(er) interest rate environment, meaning it's just Tesla and the dinosaurs, and so it has no competition. Since following Ben's videos, I moved most of my portfolio value to either fiat or BTC then again put some into alts and then again sold all alts again. Out of all other competing options against smart blockchains in top league VC funded projects, I only like DOT. Not worried of it making steap curve in value gains, which it can, but my expectation is it will not do steap downward curves in long run. Of course I can be wrong, been wrong before. I will keep trying with trading strategies adjusted and this time I only focus on 3. BTC ETH DOT.
Watching lots of YouTube analysis videos, if my understanding is right, then following are the probabilities:
- something may or may not go very wrong in markets between the end of year or till the mid of next year.
- if something goes very bad, Fed has to step in and that'd be the moment to be in the market,because that'll be the end of bear market right there.
- Then Up-Only!
The trouble with my calculations is, if I'll have enough budget in my hand to survive till June/July 2024, with all the has to do things and taxes etc etc. I just don't want to touch my portfolio at all. Maybe I need some sleep and walk in the nature to feel relax. Fiat itself is not trustworthy, let alone stable-coins. This bear market I learned that big financial institutions are just the exact same gamblers who goes all in on crypto assets types of NFT. These big institutions and small traders who trade and goes all in on dogecoin type of assets are same.
Disclaimer: These are just my thoughts, and it's not financial advice.