Investments to move towards Alt coins

bala41288 in #hive-167922 • 3 months ago

Some people predict that the alt season might start anytime soon. The main reason is that many people are booking their profits on Bitcoin. It is predicted that Bitcoin might fall further down and then an alt season might start because the capital might move towards altcoins. I'm not fully sure if that would be the case but I read a few articles where people have expressed that thought.

I don't think the alt season can be solid this time because we have nothing big to showcase in altcoins. In the previous bull markets, one thing or the other made the investors move towards altcoins. For example, people were attracted to the concept of NFTs and wanted to invest in altcoins that supported NFTs and people were investing in some NFTs too. My feeling is that this time people may not see anything that attractive in altcoins and that can make the alt season very short.

People getting back to Bitcoin

Those who invested in the altcoins in the previous season are eagerly waiting to book their profits if the market improves and move their investments to some native coins. I personally have that thought too. The main reason is that the altcoins are not making any movement but Bitcoin has some future and every time there is a FOMO, Bitcoin is the cryptocurrency that is pumping.

There is also a chance that people if they invest in altcoins now after booking profits in Bitcoin might hold their stable coins and invest them back on Bitcoin later after the price goes further down. For this very reason, it is very unlikely that the price would go down further.

Would you not invest in Bitcoin?

If I were given a chance to pick an altcoin and Bitcoin when the market is extremely low, I would go and pick Bitcoin. The reason is that I already have enough stake in Hive which is my favorite alt coin and apart from that my other altcoin investments are not doing great. So if the market is favorable for investors and if it is very low right now, then the best investment would be to invest in Bitcoin and not on other altcoins. There is a high chance that the price can recover back easily even if it drops. More people are waiting to invest in Bitcoin than people waiting to invest in altcoins.

On one side Warren Buffet followers are trying to get out of Bitcoin investment and on the other side Robert Kiyosaki is bullish on Bitcoin and that creates a huge buying pressure too.

People trading Altcoins

Usually when the price of BTC drops, people move their investments to some safe altcoins, and when the price of BTC recovers they move the funds back to BTC. There are also a few coins that drop by so much when BTC goes down and recovers only a little when the price of BTC improves. Hive is one such cryptocurrency. When the entire market is crashing, Hive will also crash but when the market is recovering well, Hive's price recovery would just be a small one. Not just Hive but there are a few more coins that does something like this. We cannot blame the coin but the market is like that.

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#investment #altcoins #bitcoin #neoxian #archon #pob #vyb #hive-engine #nfts

3 months ago in #hive-167922 by bala41288

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julianhorack 3 months ago

Namaste Bala ji. Yes our altcoin investments are underperforming in this cycle. Bitcoin has reclaimed top spot again after several years. Hive is really slow to grow, it's frustrating of course. Fortunately we still have a year to go roughly, so Hive will grow in value in a delayed manner. That's my hope.

bala41288 3 months ago

Let's hope for the best 🙏

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theringmaster 3 months ago

It's true that altcoins like Hive often take longer to recover, but with patience, there's hope for growth over time. I'm very hopeful that Hive will bounce back because the community and the technology is still doing well

rafzat 3 months ago

There is no reason why one should not invest in BTC😁😁
It’s a valuable asset. It is worth the hype!

douglas.life 3 months ago

Keep up the good work. 👏

Recognized by Mystic artist Gudasol

You are loved.

Interested to to help music map cXc.world spread more good vibes on Hive?.

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aloysiusmbaba 3 months ago

I usually consider BTC suitable only for high-capital investments and alts the best for investors with little capital. Some alts rake in as much as 100k% profits, I've witnessed this. But this can't be the case with BTC now. So I would rather invest in alts than BTC.

Thanks for writing. Have a great day.

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tough 3 months ago

I think this is actually the right time to buy more and more of altcoins now

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typebox 3 months ago

The contrasting views of Warren Buffet followers and Robert Kiyosaki on Bitcoin highlight the market's volatility and differing investment philosophies.

The strategy of shifting between BTC and altcoins based on market movements is common, but it's important to recognize that not all altcoins, like Hive, recover equally.