Bitcoin is about to hit 100,000, what should you do with a bunch of niche coins in your hands?
Bitcoin is now like a blue chip in the stock market, surging fiercely and draining the blood of other small coins. In recent days, even those meme coins on the chain are not spared, which is truly alarming.
Let's take a look at the relationship between Bitcoin and those niche coins; in simple terms, there are four scenarios:
The first scenario is that Bitcoin rises, and niche coins also rise. This is the glory of a bull market when everything is rising, and those with guts can take the opportunity to increase their positions. But be cautious, if the niche coins aren't rising as strongly as Bitcoin, you should be careful.
The second scenario is that Bitcoin falls, and niche coins also suffer. At this point, don't think about anything else; quickly reduce your risks and buy some stable currencies to hold. For those who want to short, you can start thinking, but long-term players should wait and see, don't rush to act.
The third scenario is that Bitcoin falls, while niche coins rise. This situation is rare, like Bitcoin taking a nap while niche coins take the opportunity to bounce. If you have extra funds, you might consider increasing your positions, but don't forget, this is just a temporary excitement.
The fourth scenario is that Bitcoin rises, while niche coins fall. This is like Bitcoin at the starting line of a bull market, ready to sprint, while niche coins are still dragging their feet. At this time, you need to be patient; while Bitcoin hasn't soared yet, quickly stock up on more niche coins, and when they gain momentum, you'll be able to reap substantial rewards.
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