Everyone has seen it, Bitcoin is almost rising to 110,000, but why are those small altcoins not surging along with it?
Actually, small altcoins are like hiding in a safe harbor right now, while Bitcoin has climbed so high that it's shivering from the cold. Today's investors have become savvy; they are afraid to buy at high prices, fearing getting trapped.
Think about it, when Bitcoin was around 80,000 to 90,000, buying altcoins seemed profitable. But now that Bitcoin is nearing 110,000, if it slightly pulls back, altcoins could drop by 30% to 50% in one go like last week; the risk is too high, who would want to take that chance?
From last Monday to Wednesday, Bitcoin only dropped a little, but altcoins fell dramatically, plummeting by 50%! This is the reason why small altcoins are not keeping pace with Bitcoin lately!
So, everyone would rather wait for Bitcoin to pull back before buying altcoins, rather than getting buried if they enter now!
Are you trapped? When is the right time to buy the dip? As always, if you feel lost and helpless and don't know what to do, click on my avatar to follow me
