Bitcoin is about to reach 100,000. What should you do if you have a bunch of niche coins?
Bitcoin is now like a big blue chip in the stock market. It has risen so fiercely and has sucked the blood of other small coins. In the past few days, even those MeMe coins on the chain have not been spared, which is really frightening.
Let's take a look at the things between Bitcoin and those niche coins. Simply put, there are four situations:
The first is that when Bitcoin rises, niche coins also rise. This is when the bull market is glorious, everything is rising, and the bold can take the opportunity to increase their positions. But you have to pay attention, if the niche coins do not rise as fiercely as Bitcoin, you have to be careful.
The second is that when Bitcoin falls, niche coins will also suffer. At this time, don't think about anything, quickly reduce the risk, and buy some stable currencies to hold together. Friends who want to short can use their brains at this time, but long-term players should wait and see, don't rush to act.
The third is that Bitcoin falls, but niche coins rise. This situation is rare, just like Bitcoin taking a nap, and niche coins taking the opportunity to jump. At this time, if you have enough money, you can consider adding some positions, but don't forget that this is only a short-term excitement.
The fourth type is that Bitcoin rises, but niche coins fall. It's like Bitcoin is at the starting line of the bull market, ready to sprint, but niche coins are still dawdling. At this time, you have to be patient, and before Bitcoin takes off, quickly hoard more niche coins, and when they start to work, you can make a lot of money.
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