For many people, this will be their first altcoin season in their lives.
This is hiding wealth in a place where many people dream of hiding their investments of 100 or even 1000. However, it will be a serious test for your situation and character during this period.
What awaits you?
- You will want to check every day how much your portfolio is growing.
- How big the flowering dreams of some altcoins will be at your service when they rise to the sky.
- You will want to brag about your achievements in front of your friends who are not very interested in the subject.
- Every pullback or ESPECIALLY a new maximum will make you want to deposit more money.
- Each coin will have its own risk and temptation to break your physical size rules.
- As the altcoin season gets deeper, you will start evaluating worse projects.
This will be a real test. Those who remain calm and can withstand declines of 30%, 50% and even 70%, and successful growths of 100%, 300% or even 500% will win.
What to do?
1. Have a clear plan.
Set your goals, decide in advance when you will exit coins.
2. Be realistic.
Set reasonable financial goals, do not rely on the "million" percentage.
3. Stock up while prices are low.
For this, it is useful to follow the RSI indicator (it shows whether the market is overheating or, on the contrary, falling too much).
4. Determine the time of the end of the cycle. Signs of the end of the sub-season:
- Mass media are starting to actively write about altcoins.
- Double top figures appear with low/decreasing volumes on larger time frames.
- RSI on the monthly chart has been exceeding 90 points for a long time.
The most important thing is to maintain modesty and common sense and to stick to your plans and goals.
Altcoin season can be a great opportunity, but it only moves those who stay calm and present.