BobKnd71 (OP)
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August 30, 2021, 07:33:43 PM |
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I have been watching this market for a long time.
It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts?
[I used to post as BobK71, and am using a new account after some logistical mixup.]
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jackg
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August 30, 2021, 07:37:45 PM |
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I THINK the altcoin dominance the second time is brought on directly from bitcoin crashing? I could've remembered that wrong but it's what I thought I saw.. If your goal is to collect bitcoins, then hold alts and wait for them to go up a lot against bitcoin.
I also don't know if we're in for a rise in bitcoin dominance though too and for alts to fall a bit lower.
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BlackHatCoiner
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Bitcoin is a royal fork
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August 30, 2021, 07:55:03 PM |
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Usually, altcoins increase and decrease more than Bitcoin does, because they have a smaller market cap. To make thing clearer, when you increase the Bitcoin's market cap by buying it, you surely affect it less than you would with an altcoin, due to the market cap's difference. So you'll influence the price of an altcoin more than you will with Bitcoin, because the market cap will proportionately increase more. It's riskier to invest in altcoins, because it's easier to manipulate their price. In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.) This is just my own opinion, but I believe that the majority of the world wants Bitcoin and will get rid of their altcoins in a bear market to be wealth assured.
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wxa7115
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August 30, 2021, 09:11:08 PM |
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I have been watching this market for a long time.
It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts?
[I used to post as BobK71, and am using a new account after some logistical mixup.]
If you are a long term trader then that seems like the correct movement to make, but this is easier said than done as we do not know beforehand when we will begin to see those performance changes. It may seem as if we are at a point in which investing in altcoins makes more sense but that is only true if the bull market follows the patterns we have seen so far, but what if we see a supercycle in this market and you invest too early in altcoins and now you are faced with a difficult situation in which you have to sell your altcoins for a low price and get bitcoin at a more expensive price?
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sunsilk
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August 30, 2021, 09:22:13 PM |
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It would still be the better idea to keep bitcoin if you're wanting a more reliable and stable cryptocurrency. There's more volatility with altcoins and you'll likely see some of the coins that have pumped today will be dumped badly tomorrow.
Watching out when the market is likely to end this bull market is hard but if you see that it's going there, you can make that decision of converting those alts into bitcoin. But why convert only when you're about to see the end of the bull market and why not just do that when you can do that in between and if there's the usual correction?
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stomachgrowls
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August 30, 2021, 09:46:04 PM |
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I have been watching this market for a long time.
It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts?
[I used to post as BobK71, and am using a new account after some logistical mixup.]
Dominance isnt a solid indication for you to rely on in regards into your investment decisions whether you do go for Bitcoin or altcoins. Also in comes with price correlation then this is something very unpredictable. Some say that whenever bitcoin price goes up then altcoins go down but the fact that there are indeed times that they do really go into the same manner or neither they do go to the opposite direction into each other. There are even times where price doesnt really react whenever a certain coin or even bitcoin itself is mooning or rallying but i cant really blame those people on having this kind of mindset since most of the time they are really been dragged off on whatever bitcoin trend currently it do have.
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Boov
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August 30, 2021, 10:26:31 PM |
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I wanted to take this opportunity to choose both bitcoin and altcoins to this potential upcoming bullrun. Don't ignore those altcoins with promising value that started to show green signals, despite on the volatility of the situation. We seen the fast recovery of bitcoin recently, this attracts every trading pairs that's why it raises other coins which was continuously supports the whole community.
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Hydrogen
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August 30, 2021, 10:39:02 PM |
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It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts? Astute observation. Much has been writ about bitcoin's alleged price volatility. Alt markets being low(er) volume traded assets, opens the door to them trading with higher volatility imo. There is often an uptrending price correction in alts after a bitcoin uptrend. But sometimes the upswing has to be sustained for weeks or months, which can make the timing to enter into alts iffy. If bitcoin being defined by 4 year boom and bust cycles, incentivized by its rewards pool halving roughly every 4 years holds true. A decent strategy could be to buy bitcoin. Ride it to new highs. Sell. Then buy alts in the hope of catching their eventual price correction in bitcoin's wake. To be honest, there are always so many opportunities everywhere in crypto, I don't know how likely or unlikely an investment scenario that is. Gains from bitcoin's 4 year cycle alone can be so large. And opportunities presented by emerging alts can be so tempting. That really there might be zero need for any type of special timing play. [I used to post as BobK71, and am using a new account after some logistical mixup.]
I remember BobK71 as an author of many gold and precious metals topics in this section. Welcome, if you are him.
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kayiboyu
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August 30, 2021, 10:52:34 PM |
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Altcoins are dependent on Bitcoin's movements actually. Most of the time, every altcoin price increases or decreases being parallel to Bitcoin. Sometimes, we witnessed Ethereum price to increase but Bitcoin didn't. And sometimes, we saw that meme coins boomed while the market was in a bad condition in general. The choice is yours. If you are aiming to HODL, then the best option is Bitcoin I believe. Otherwise, you can give a chance for credible altcoins like Ethereum.
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Botnake
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August 30, 2021, 11:20:10 PM |
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Altcoins are dependent on Bitcoin's movements actually. Most of the time, every altcoin price increases or decreases being parallel to Bitcoin. Sometimes, we witnessed Ethereum price to increase but Bitcoin didn't. And sometimes, we saw that meme coins boomed while the market was in a bad condition in general. The choice is yours. If you are aiming to HODL, then the best option is Bitcoin I believe. Otherwise, you can give a chance for credible altcoins like Ethereum.
Bitcoin has always been dominating the crypto market and even today, it still leads the market into its bullish season. But we also see ethereum becomes bullish too just like bitcoin so if we want to be more profitable in the long run, then definitely make them both as your priority. After all, bitcoin and ethereum are the most profitable cryptocurrencies at the moment. Meme coins are also in hype but i don't think they will be able to sustain their high price. For me, bitcoin is definitely volatile but altcoins are even more risky because they are more volatile than bitcoin. So when we think we are already in bearish season, altcoins will drop their value drastically than bitcoin that's why most of the traders end up selling altcoins just to buy bitcoin and add it on their portfolio.
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pinggoki
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August 30, 2021, 11:21:14 PM |
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Bitcoin increasing much more than altcoins during bull runs is to be expected, it has a much larger market cap than altcoins. This also is the reason as to why altcoins look much more severely beat down everytime bear season comes in. Since bitcoin has a much larger market cap, resistance is at a higher point which makes it so that bitcoin can weather much more severe dumps compared to altcoins. Truth be told, without bitcoin altcoins wouldn't even be a thing, so it's not like altcoins are at a big disadvantage with bitcoin being around. Altcoins are dependent on Bitcoin's movements actually. Most of the time, every altcoin price increases or decreases being parallel to Bitcoin. Sometimes, we witnessed Ethereum price to increase but Bitcoin didn't. And sometimes, we saw that meme coins boomed while the market was in a bad condition in general. The choice is yours. If you are aiming to HODL, then the best option is Bitcoin I believe. Otherwise, you can give a chance for credible altcoins like Ethereum.
Exactly, rarely do I see an altcoin increasing in value dramatically in the midst of bitcoin dropping in value either due to a dump or because of bear season as most of them fall down the same time as bitcoin. A good example is DOGE flourishing amidst the bitcoin dump where it reached an astronomical value courtesy of Elon Musk shilling DOGE in his twitter page. But as the market recovers we can see more altcoins increasing in value once again, that's for sure.
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cabron
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August 31, 2021, 02:23:33 AM |
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This is if you are confident that the altcoins will break their ATH when the next bull run cycles again. If not just abandon the altcoin and move to an altcoin that has been ranking above. Or simply trade BTC.
The tl;dr is that take profit every time the bull market is about to take a nosedive and then buy back when it hit the sediment under that troubled waters.
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mk4
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August 31, 2021, 02:41:29 AM |
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That surely is usually the case. But the question is, how sure are you that the "late part" of a bull market is actually to come in the near future? Also assuming that you could actually accurately time the end of the bull market.
See, things like this sounds so easy in hindsight, when you can already see what has happened in the past. But predicting future prices is a different beast.
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Yaunfitda
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August 31, 2021, 08:42:17 AM |
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Could be a good strategy, but we all know how altcoin market is very volatile, so this is not a sure fire to make money whether bitcoin is on a bull run or not.
Wise investors just move their assets around, bitcoin->altcoin but those are more experience kind of traders. Not saying that you are not, but it could complicate things for you. So it's better to really try it with small portions and then see how it goes. If it fits your strategy then good.
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NeuroticFish
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August 31, 2021, 08:52:13 AM |
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It seems that in the early part of a bull market, Bitcoin goes up faster than altcoins (ie Bitcoin dominance goes up.) In the late part of a bull market, Bitcoin still goes up but altcoins go up even better (ie Bitcoin dominance goes down.)
In a bear market, altcoins fall faster than Bitcoin (ie Bitcoin dominance recovers somewhat but has to wait for the next bull market to go really high.)
So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
While the analysis looks pretty much correct, I can't tell for sure that this pattern always takes place and, even if it would do, it's imho pretty hard to pinpoint good moments when this switches should take place. I don't know if anybody can tell for sure whether this is a good moment or not. And they also shouldn't; it's your money and your risk. I'll only add that even if you are willing to play (with fire) like this, you should keep at least half of your crypto assets in bitcoin, just to not fall that bad if something goes wrong.
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ILuckyGuyI
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August 31, 2021, 10:18:36 AM |
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My first choice would be Bitcoin because of being a HODLer. I think that it is the most profitable coin in the market in the long run now. But I'm not saying that the rest of the coins are bad. My second choice would be Ethereum definitely. I'm saying Ethereum before BNB because I believe that Ethereum has a brighter future. Because BNB is dependent fully on Binance exchange. But Ethereum is not in such condition. And the developers are continuing to improve Ethereum also. It might even have a potential to dethrone Bitcoin in the future, who knows?
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jakdanyel
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kycfree
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August 31, 2021, 11:12:41 AM |
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It could be the best time to buy Bitcoin and Ethereum at the same time now. Bitcoin price is not able to resist against $50k resistance level and the price is still stagnant nowadays. But after breaking it, I think that its way will be wide open. While Bitcoin is in such condition, Ethereum price continues to increase interestingly. With Ethereum 2.0, there will not be a big hindrance for it except Bitcoin's movements and I believe that it can double its price at least in a new bull run.
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raidarksword
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August 31, 2021, 12:18:13 PM |
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Both of them will be a good bargain for your venture and you can put 50/50 on them for assurance profit in the future and surely will of course. Bitcoin will always be dominant no matter what, if you thinking it's late to have bitcoin, then it's never too late because bitcoin will increase price every year. On altcoins too just pick good projects that will have a great future for a long run and find hidden gems while it's cheap as for now.
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michellee
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August 31, 2021, 12:36:49 PM |
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If you feel hard to choose the altcoin, bitcoin will be the best choice to buy as you can confuse to select which altcoin can increase later even if you buy ethereum or bnb as the top altcoin right now. It is right if altcoin falls faster than bitcoin and will go deeper than bitcoin because the altcoin price will follow bitcoin moves. But still, if you buy ethereum at the downtrend, that could be a good choice. But sometimes, ethereum will not go down deeper if the bitcoin price down.
Now, you can buy both bitcoin and altcoin simultaneously, but be careful if you want to buy altcoin because you will get tempted to buy the altcoin below the top 10 coins list.
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LogitechMouse
Legendary
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Paldo.io - Crypto Airdrop Database
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August 31, 2021, 01:32:25 PM |
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~ So, it would seem the correct play is to buy altcoins at this point, and then convert them into Bitcoin (or sell) when you see the bull market ending?
Any thoughts?
[I used to post as BobK71, and am using a new account after some logistical mixup.]
It seems to be a good idea but the question here is "do you know when is the end of the bull market?" Well, we are just basing our next moves just by how cryptos are moving in the past but predicting the future is a different thing ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . I agree though that altcoins tend to move faster compare to Bitcoins because they have a lower market cap therefore, it's price is affected heavily towards either up or down. I think it would be just better if you will just sell your altcoin holdings immediately as long as you got some profit on it. Converting it into Bitcoin might be better but don't forget that altcoins are moving similar with Bitcoin does. Its just that altcoins tend to move faster compare to Bitcoin. Selling and converting it into cash would be better at least for me to secure the profits unless you have other options after you convert it into Bitcoin like trading it again.
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