Everyone is saying that the season of altcoins is coming, but I think it is too early.
You see, the main force just "washed" the retail investors, leaving them trapped, and then started to pull up to get rid of the trap. Isn't this digging a hole for yourself?
For the altcoin season to really come, there must be two conditions: one is that the main force must have enough chips in hand, and the other is that Bitcoin must rise again. Neither of these two conditions can be achieved overnight, and it has to be done slowly.
From the weekly chart, Bitcoin almost rose for seven consecutive weeks a while ago, but now it has only fallen for two weeks, and today is only Tuesday. Therefore, I am not very optimistic about the next trend, and I feel that it will fall for a while.
But it does not mean that altcoins will not rise. Many altcoins are almost falling to their historical lows. Although it cannot be said that altcoins have an absolute bottom, relatively speaking, there is not much room for further decline.
The current rebound of altcoins may be to leave some room for the possible callback later. Otherwise, if Bitcoin keeps falling, many altcoins will hit new lows.
Bitcoin fell below 94,000 again today, but most altcoins have rebounded. Today's greed index is 73, which shows that the market is still quite confident in the short term.
No one can handle the rise and fall at once. The main force's means are nothing more than creating panic and delaying time.
However, I am still quite confident about the market next year. Let's be patient, and opportunities are waiting for us not far away!
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