Altcoin Season is Upon Us! Perspective is Required.
As a holder of EOS, Tron and STEEM, I am a happy man today. They say a rising tide elevates all boats, and that is what has happened as Bitcoin's rise gave to to attention to undervalued altcoins.
Why are the altcoins surging? Are we in an altcoin season already? Simply put that Bitcoin's rise from $7,000- $8,500 has traders looking for the next big win in the cryptocurrency markets. CME Bitcoin options are going live soon, the Bitcoin rewards halving is coming in May and it looks like the entire cryptocurrency market is undervalued.
Historically, altcoins have performed after Bitcoin has risen in price and dominance. Investors and traders dump their overvalued Bitcoin and then pickup quality altcoins. Another major trend is investor's run to safe-haven assets. Gold has surged and large investment houses including Berkshire Hathaway are holding cash. Bitcoin is beginning to emerge as another safe-haven asset, and with its performance this year, that theory may be tested during the next downturn.
Altcoins are derivatives of Bitcoin. The most recent rally can be attributed to the fast approaching CME options. Expect more movement as CME options trade and Bitcoin's dominance soars. It has been said that the Bitcoin options market could kill the altcoin market due to increasing dominance and a consensus that all altcoins are just Biycoin with a higher or lower market beta measure.
The altcoin market is a place with opportunities for investors. During times when Bitcoin's dominance soars or when the cryptocurrency market's marketcap decreases, it is a huge place to make bets on blue-chip altcoins including Etheruem, XRP, Tron and EOS. Despite what many believe, a large number of altcoins have thriving dApp ecosystems, business relationships and unique value propositions.
Enjoy this time. Get ready for the halving, and don't lose sight of good investing principles. The cryptocurrency Winter we observed will be over one day, so hold your favorites and don't miss out.
Originally published in my Publish0x account I own at:
https://www.publish0x.com/introducing-myself-on-publish0x-wstanley224/altcoin-season-upon-us-perspective-required-xlvlwm
Also published in my Weku account.
Picture from Pixabay.
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https://finance-yahoo-com.cdn.ampproject.org/v/s/finance.yahoo.com/amphtml/news/crypto-market-came-alive-long-125429040.html?amp_js_v=a2&_gsa=1&usqp=mq331AQCKAE%3D#aoh=15790410118875&csi=1&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fcrypto-market-came-alive-long-125429040.html
