Bitcoin is less than $300 shy away from hitting $26,000 at the moment I'm writing this post and it seems to be relentless in claiming one ATH after another. Nobody is even talking of it on TV and it has crossed by its 2017 peak with almost $6,000. BTC is having its time this year and we're still far away from a peak for this bull market the way I see it.
You don't get too much talking about alts lately though. Except crypto dedicated platforms, the whales that took BTC where it is now don't talk altcoins, are probably not advising their clients to invest in them and and in the case of many shitcoins they shouldn't even do that. Is the altcoin season aborted though? Yeah, they someohow managed to mute Christmas with corona, but come on, we're not gonna have our altcoin season this bull market?
Koroush AK(@KoroushAK) with over 70,000 followers on twitter says we will have one, but first we're gonna have a blood bath and panic selling. Does that mean we're on tracks and massive gains will bless the strong hands of the 2018-2020 bear market survivors? We'll see about that...
Dumb money disagrees with it though and they have reasonings for their sayings, captured by yours truly in the following screenshots. *It's the institutions that are driving BTC to the moon(spot on) and those are not investing in alts they say...
VanillaGorilla, aka weak hands, has a bit of hope for an altcoin season though, but neah... nothing worth being excited for. He'll probably sell alts for BTC right when the BTC dominance will top out and shitcoins will sky rocket like they did in 2017-2018. Don't forget, it's human psychology that leads these markets more than charts and Grayscales do...
When someone calls you a donk on twitter though and comes with such a relevant argument as the one screenshotted below you should just listen to it. That man is a genius. He probably bought in January 2018, held all the way to March 2020 and after selling any last crypto he owned he came to the conclusion that crypto is ponzi. Good job, now start educating people on crypto.
It's not full disbelief in the comments section of the altcoin season announcing tweet, as some have a grain of hope like BTC Captain who even bothered introducing a gif in his comment, but their patience seems to be as strong as a four years old child in front of a waffle left alone in the room for two minutes, while mommy comes back with more if he doesn't eat it. Man, you call yourself a captain in crypto but you're asking for time frames and confirmation from a man on the internet you never met before... Come on. Do us a favor, sell everything and leave. Wear a mask also...
It's not all doom and gloom guys, there is hope at the end of the tunnel. WE WILL HAVE AN ALTCOIN SEASON, BUT ONLY THE FUNDAMENTED ONES WILL ENJOY IT. Like always... Someone please tell me the fundamentals of the last run up for XRP or how the heck did LINK got where it is, and how much better in terms of fundamentals are those two ones in comparison with Hive for example, or even BAT... What do I hear?
Now let me tell you my take... We will have an altcoin season, although I have no clue when will that be. Yes, I am not shy from saying I DON'T KNOW and for the ones believing they know everything and have time frames for every move of the market, I would recommend watching Eckhart Tolle's The Power of Not Knowing or start leverage trading and journal that :))
We will have an altcoin season because the fear and greed market fundamental metrics are still driving the crypto markets up and down and if this bull market should have been driven by fundamentals then we wouldn't have had XRP pumping this months, DOGE also, we probably wouldn't have a BTC one either...
But as long as people are driven by emotions, mainly greed and fear, and as long as those shitcoins are listed on plenty of exchanges people are gonna buy them and institutions will too. They just haven't finished playing their BTC game yet. The snowball needs to get a bit bigger and than after the altcoin one will be created.
My take is that sooner than later ETH is going to be talked about by Grayscale, MicroStrategy and who knows what other big players leading the way up in this bull market. DEFI is on the lips of almost anyone in this space and the BTC bulls won't ignore it for too long. Don't forget that PayPal and most of the crypto ATMs in the world accept BTC and some other altcoins as onboarding ways on this wild crypto bull ride. You've got options and those are called altcoins.
Altcoins are not dead and they'll make you massive gains. It's not their time yet and we shouldn't hate BTC for that. Instead I'd advise the panicked ones wasting time on twitter all day arguing and not doing anything productive with their time to check THE CRYPTO MONEY FLOW CYCLE by @rektcapital on twitter who is really a smart ass and his plane simple logic makes much more sense than the guessing game some are playing, actually getting into losing more money than they could make.
It will probably take time before alts will starts chopping the BTC dominance, but their time will come. The fact that for now large financial institutions seem to not be adding alts to their portfolios and staying quiet about those, doesn't mean their value or important part in this bull market is gone. The way I see it, most of the development in the crypto industry is done by altcoins projects and not Bitcoin.
The king is just like a train on tracks, quite predefined ones we could say, while the rest of the crypto world, not all of the participants of course, are working in building the road infrastructure aside the railroad tracks. BTC might be the unstoppable train, but there are highways and city streets being paved as we speak. Hive being one of them, which is not doing great atm price wise, but the potential is there.
I admit, I was close to selling my alts for BTC a few times this month, but I haven't, and am glad I didn't. Going in the opposite direction of the herd seems to always be the most profitable strategy. Let them sell... I'm not. I don't know when the altcoin season will kick in, but I know it will, and my bags are ready. I also feel that ETH will once again lead that rally. Just like in the money flow cycle linked above.
Have a great day people, enjoy your time and be happy for being in crypto at this time. Don't feel down if your altcoin bag's not pumping like BTC does. It's just not the time yet...
Screenshots source: https://twitter.com/KoroushAK/status/1342852837693390848
Thanks for attention,
Adrian
Initially Posted Using LeoFinance Beta
