The phenomenon of Bitcoin rising sharply while altcoins are still 'testing the bottom' is not uncommon when the market concentrates cash flow into BTC. Here are a few perspectives on this situation
1. General Psychology of Holders
• Emotional Spiral: As you mentioned, the continuous cycle of 'small profit → back to entry → loss' creates a feeling of discouragement and impatience. This is when many people are prone to making mistakes, often selling at the bottom or switching to other coins without careful consideration.
• Coin Jumping: Many people jump to other coins hoping to find 'light' but end up getting stuck in a vicious cycle because they don't know when to enter/exit.
2. Current Cash Flow
• BTC is attracting liquidity very strongly, especially if it's approaching the psychological milestone of 100k. This leaves altcoins 'abandoned'. Once BTC peaks or moves sideways, new cash flow may return to altcoins.
• But not all altcoins will recover. Weak coins or those without long-term potential may continue to move sideways or decrease.
3. Advice for Fellow Holders
• Clearly define your strategy: Before buying, you need to determine whether you are a trader (short-term) or a holder (long-term). If you have identified as a holder, do not let short-term fluctuations affect your mentality.
• Monitor cash flow: If BTC truly reaches the 100k mark, it is very likely that altcoins will have a running season (altseason). At that time, holding quality altcoins will be beneficial.
• Don’t jump around: Unless you have a clear reason (strong FA/TA), do not switch between coins, as transaction fees and the time spent on stuck orders can cause you to miss opportunities.
Are you holding any altcoins?