Well-known specialist and investor Michael van de Poppe noted that he invested all his money in altcoins, however, their value went down. The specialist said that he decided to “play all-in” despite the risks. He tried to assess what will happen in the market for alternative cryptocurrencies in the future.
The investor noted that last week the state of the crypto market left much to be desired. The specialist recalled that over the past 7 days, quotes for Bitcoin (BTC) and other digital currencies have decreased significantly. Van de Poppe stressed that this is not due to macroeconomic factors such as the dollar (USD) exchange rate or Treasury yields. He mentioned that the German government is actively selling its holdings from the treasury, and this may affect the price of the digital asset.
The author also discusses his strategy for investing in altcoins, including allocation and conviction. He noted that he switched from Bitcoin to alternative cryptocurrencies, investing all his funds in them in order to earn more BTC in the future. The expert always evaluates the cost of tokens in US dollars and in pairs with the main cryptocurrency.
The author emphasizes that his strategy remains unchanged despite the current difficulties. “Little has changed in my portfolio, however, I have chosen new tokens for investment,” said the specialist. He explained that some cryptocurrencies were replaced with newer ones in order to obtain high returns. The expert recommends monitoring Bitcoin’s valuation and purchasing coins during each fall. According to data as of July 7, 2024, the price of BTC is at $57,270. This is 6.6% lower than the same indicators a week ago and 19.2% cheaper than a month ago.
