When and how to make the long-term switch to altcoins

Time selection:

1. Market trough: The best time to buy altcoins is usually during the trough of the cryptocurrency market. During this period, the sentiment of many investors was relatively depressed, and the currency price was relatively low.

When Bitcoin Bull Market Starts: When Bitcoin starts to rise significantly, funds usually flow into Bitcoin first and then gradually flow into altcoins. This is a good time to gradually switch to altcoins.

2. Major technology upgrades or cooperation: When an altcoin releases a major technology upgrade or announces an important cooperation, it usually attracts market attention, thereby pushing up the currency price.

method:

3. Research project fundamentals: gain an in-depth understanding of altcoin technology, teams, white papers and practical application scenarios. Choose projects that have practical application and innovation potential.

Diversify: Don’t put all your money into a single altcoin. Diversification reduces risk and increases profit opportunities.

4. Technical analysis: Use charts and technical indicators (such as relative strength index, moving averages, etc.) to determine the best times to buy and sell.

Follow the community and news: Pay attention to community activities and news updates of altcoins and obtain timely information. For example, join the project’s Telegram group, subscribe to their newsletter, etc.

5. Long-term holding mentality: Long-term investment requires patience to avoid short-term fluctuations affecting the mentality. Set reasonable investment goals and stop loss points.

6. Risk management: When investing in altcoins, pay attention to risk management. Do not invest more money than you can afford, taking into account the potential loss of all money invested.