Many coins reaching new all-time-lows today doesn't mean crypto hasn't bottomed

[sergiorus]

It probably just means those coins have no value and no market conditions can change that.

Just made a quick scan this morning, among the coins that made new all time lows I spotted the usual suspects: Polkadot, ZkSync, Berachain, Optimism.... Notice something? All are dead, useless blockchains.

Bitcoin and especially Ethereum, Uniswap, Chainlink, Aave, OKB all look very bottomed out and already are catching a bid.

Don't look at the altcoins in general. Many (maybe most) of them are on their continuous journey to zero.

Look at BTC and ETH and the strong narrative plays. This is where the market clearly shows strong signs of life.

Don't get trapped shorting the industry because some people's and VC's bags are speedrunnung to zero. This is the time when longs start to have far better R/Rs.

[citywise2]

If you keep your eyes and attention on BTC  and ETH, you'll never be far from whatsoever the crypto market is doing because these two are not the most capitalised and most traded for noughts.  Many coins and tokens out there are not worth the memory space they occupy and so staying in the bitten track should be the watch word here. For me I look first to see the utility inherent in a coin to want to give it a second look.

[Dr.Bitcoin_Strange]

Bitcoin and especially Ethereum, Uniswap, Chainlink, Aave, OKB all look very bottomed out and already are catching a bid.

Bitcoin has been catching bids since last year when its price started dropping. Even when Bitcoin dropped to $80k around November last year, I remember that most people said $80k would be the bottom and that Bitcoin was going to reach $200k from there, but it didn't. As a result, many people have continued buying up to today, meaning that Bitcoin has been catching bids all along. Even the lowest price Bitcoin has reached this year might not be the bottom before the bull run starts.

Don't look at the altcoins in general. Many (maybe most) of them are on their continuous journey to zero.

Doesn't that give some traders the opportunity to keep shorting (opening short/sell positions) those coins? I think this kind of contradicts what you said below because if these altcoins are in a steady dip toward zero or are still bottoming out, then you can expect some traders to open sell positions and make profits from the dump of those tokens.

Short positions can still have a good risk-to-reward (R/R) ratio for skilled traders who know what they're doing, while long positions can also be profitable. However, if a trader is using high leverage without proper risk management, they can be liquidated if the price bottoms out even further when they are on a long position. Based on my own speculation, Bitcoin could still dip below $58k. In fact, I caught some sell trades yesterday from $65k down to $63k today.

Don't get trapped shorting the industry because some people's and VC's bags are speedrunnung to zero. This is the time when longs start to have far better R/Rs.

[sergiorus]

Doesn't that give some traders the opportunity to keep shorting (opening short/sell positions) those coins? I think this kind of contradicts what you said below because if these altcoins are in a steady dip toward zero or are still bottoming out, then you can expect some traders to open sell positions and make profits from the dump of those tokens.

No because after so many years of downsides they are very illiquid and manipulative. Outisider shorts get hunted, scam wicks run stops and occassional short squeezes when the market feels alright happen too.

Those shorts are very high risk high reward swing trades that are simply not worth it if you're not a part of the insiders who get their tokens unlocked and cooperate to extract the money from the market more efficiently.

It makes more sense to start positioning yourself for a lasting long position in the strong narrative plays here at the bottom.

[LogitechMouse]

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Just made a quick scan this morning, among the coins that made new all time lows I spotted the usual suspects: Polkadot, ZkSync, Berachain, Optimism.... Notice something? All are dead, useless blockchains.

Bitcoin and especially Ethereum, Uniswap, Chainlink, Aave, OKB all look very bottomed out and already are catching a bid.

Don't look at the altcoins in general. Many (maybe most) of them are on their continuous journey to zero.
---

This is where both focusing on the top coins, and researching comes into place.

Focusing on the top coins in the sense that we as investors should just focus on the top coins or what I call as "established coins". We should just focus on them because they've stood the test of time, and they survived multiple bear markets already. I'm talking about the likes of Bitcoin, Ethereum, Ripple, and maybe we can include Solana on the mix already? As for the second one which is researching, now if you want to find those "hidden gems" at the bottom of the market, you might want to make some research or to make it quicker, let those AIs out there do it for you. There are many coins at the bottom that could double or even triple your money, and of course the risk is there especially when the price goes to it's ATL just like the coins that you shared.

Not all coins that are at the ATL currently will recover. Majority of them will continue to go down even though the market is starting to recover already. Always beware of those coins, and just a tip. Most of them are at the bottom already.

[348Judah]

It probably just means those coins have no value and no market conditions can change that.

What we should first look at before investing at any coin is the utility and the developers that are packing such a project up, because on a serious note if there is no feasible feature and realistic possibilities, many of projects in this manner may fail after launch because the luck investors who are the major contributors to performance by funding it in order to increase its value and create more relevance to it.

[RGBTC]

Just made a quick scan this morning, among the coins that made new all time lows I spotted the usual suspects: Polkadot, ZkSync, Berachain, Optimism.... Notice something? All are dead, useless blockchains.

Unlike the early altcoin era, each market cycle produces only a handful of bluechip coins that can barely survive the harsh shocks of the bearish season. I think $hype is the only nominee this season.
It's quite interesting to start diversifying short positions across many new altcoins when signs of a bear market begin to appear.

[GreatArkansas]

To be honest, this kind of market, especially a bear market, seems good sometimes to happen. Because it's kinda cleansing the market. Scams are getting removed from the market; you will know who's real.
And the good thing always is, Bitcoin always stays no matter what.

So for me, some may consider this an opportunity to buy the bottom or buy the dip, which as a trader, it might be valid.

[freedomgo]

In general, the success rate of altcoins is very low. A lot of them turn out to be scams, abandoned projects, or simply coins that never recover after the hype is gone.

I can say that from experience because I still have several dead altcoins sitting in my wallet. I bought them during an altcoin bull run when everything was being hyped, and I made the mistake of holding them without any real plan to sell. Even before the bear market fully arrived, some of them were already losing value, and now they are practically worthless.

That’s why I think investing in altcoins can feel more like gambling. The reward can be much higher than Bitcoin when you pick the right one, but the risk is also much worse. Once an altcoin drops 90% or 99%, most of the time it never comes back.

[The Cryptovator]

It probably just means those coins have no value and no market conditions can change that.

Just made a quick scan this morning, among the coins that made new all time lows I spotted the usual suspects: Polkadot, ZkSync, Berachain, Optimism.... Notice something? All are dead, useless blockchains.

Bitcoin and especially Ethereum, Uniswap, Chainlink, Aave, OKB all look very bottomed out and already are catching a bid.

Don't look at the altcoins in general. Many (maybe most) of them are on their continuous journey to zero.

It’s true altcoins just keep dumping; even some of my holdings have been dumped as well. Since Bitcoin has dumped, the altcoin market almost went to the bottom. From my holdings, ARB has dumped a lot; my average purchase price was $1.25; now it’s been trading at almost zero. Also, Solana has dumped a lot more than expected.

Nowadays I don’t trade altcoins much. Now accumulating Bitcoin and some other strong and real altcoins, I don’t want to look back at the shitcoins anymore. Those shitcoins give me a costly lesson. There are just rumors about alt season, but I don’t see any probability of seeing it very soon.

[EL MOHA]

It’s true altcoins just keep dumping; even some of my holdings have been dumped as well. Since Bitcoin has dumped, the altcoin market almost went to the bottom. From my holdings, ARB has dumped a lot; my average purchase price was $1.25; now it’s been trading at almost zero. Also, Solana has dumped a lot more than expected.

Most of the time if one actually tells most of these investors that only bitcoin is actually worth that class of been called an asset for investment some thinks it’s exaggeration or not giving other Altcoins an opportunity, yes you can make a case for some top altcoins but realistically how many of them, it will be a hard choice to even get select 10, that you can say they can actually recover later, at least Solana you mentioned can be made a claim for because it had recovered before.

Most of them are pump and dump coins just like the list of examples that the OP gave, most of those coins are barely four years old, I can recall Zksync and Berachain were just around late 2023, in fact Berachain went live last year has died already just like many networks too. The advice is always to treat this coins as pump and dump coins

[retaur]

For the majority of the time bitcoin is not at the bottom or the top. The same is true for other cryptos..

Buying the recovery or DCAing is likely the best strategy as well as just holding too.

I'm guessing $44k isn't out of reach too. Perhaps even lower. But it'll probably end up being a flash crash again and you'll end up buying $50k if you're not too nervous to do so..

[Stepstowealth]

Just made a quick scan this morning, among the coins that made new all time lows I spotted the usual suspects: Polkadot, ZkSync, Berachain, Optimism.... Notice something? All are dead, useless blockchains.

It is not surprising to see that there are still people who actively invest in all these altcoins that have little or no value, I just see these people that invest in such as people who are not well informed or rather have the wrong information about bitcoins. They have people who have been told them or the information they have on the cryptocurrency world is that there are no opportunities left in Bitcoin and people who are not early investors have totally missed out, so these people focus on altcoins instead instead of utilizing the energy and resources they have to execute strategies like dollar cost averaging in trying to accumulate bitcoin and catch up with others.

I see it as waste of time investing in alts when bitcoin is there and has a strong reputation backing it up.