As Bitcoin’s dominance increases, the altcoin market may be about to recover! Now is a good time to buy using the cost averaging method (DCA)! It is recommended to plan ahead!
The crypto market seems to be in trouble at present. Today, Bitcoin once soared to $67,000, but soon fell back to around $65,000, which suggests that there is a certain volatility in the market.
Mainstream coins are less affected
However, despite the volatility, the impact on Bitcoin and Ethereum is almost negligible compared to altcoins, and the situation of altcoins is more worrying. You can check the projects you invest in, and I believe you will find that the sharp decline of altcoins is very serious compared to Bitcoin.
In the current market environment, Bitcoin’s dominance has increased, and many altcoins, including popular coins such as Solana, Avalanche, Polygon and Chainlink, have fallen sharply. Even projects in the fields of artificial intelligence and games have declined.
At the same time, I also give some advice to people who want to invest in altcoins
I now recommend not giving up altcoins because now is not the best time to convert Bitcoin to altcoins, at least not an ideal time. As can be seen from previous historical cycles, the peak season of altcoins occurs at the end of the market cycle. In the last cycle, although Bitcoin performed well, altcoins did not rise sharply until the end of 2021.
A good time to invest in altcoins
At present, I personally think that now is a good time to buy stable altcoins using the cost averaging method (DCA), because the price of altcoins is relatively low now. Although it reflects the sluggish market, it is also a good time to start altcoins. It is expected that many altcoins will show signs of recovery in the near future.
However, although altcoins have the potential to rise in the future, it is definitely not a wise choice to convert Bitcoin into altcoins for investment at present.
If you can stay calm during the market downturn, you can gain wealth regardless of the bull market or bear market. It is especially important to always make your investment plan!
Click on the homepage to see the cost averaging method (CAD) using Bitcoin as an example
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