Alts Beginning To Boom
On the 17th of November I posted "Let's Explore The World Of Passive Crypto Income - Part 10", in which I addressed the fact that I believed it was time to start picking up some great staking altcoins. My belief and motivation was that despite a possible continuation of the Bitcoin dominance, it was highly likely that alts would start appreciating soon, even if only in USD for now. However, BTC dominance is currently showing signs of weakness and could break down to provide a short-term alt season that could see alts appreciate against BTC, as well as increase in dollar value. Creating Passive Crypto Income is predominately about creating wealth that has purchasing power to support your life. Yes, you will always want to see your bag go up in BTC value but that will come in time.
I believe that there will most likely be a series of short altcoin seasons prior to a monster rally taking place in the second half of 2021. This is just my opinion and not a definite confirmation of the future. However, all my moves from here on out will be with that very dynamic in mind. XRP has stunned many market participants today with a massive breakout of approximately 35% in hours!
I decided to close a small leverage position I had open. Regardless of whether XRP goes higher or not, I always lock in my gains. It is pointless being greedy as the current gains are pretty decent and I know how XRP can collapse like a knife in an instant.
XRP is not the only alt that is performing really well today! Ethereum is up 7%, while BCH, BSV, EOS and ADA are all up between 14% to 16%. TRX has also had a nice little pump and is currently trading at $0.03!
Crypto never sleeps, so I hope you don't miss out on all the amazing opportunities currently on offer!