LIVEThe trader advises exchanging bitcoins for cheaper cryptocurrencies.
The trader, known under the pseudonym Roman, predicts a quick start to the altcoin season and advises exchanging bitcoins for a much cheaper cryptocurrency. The rise in Bitcoin dominance is fading, so altcoins should rise in price in the summer. Don’t be the person who throws up your hands, wondering why the altcoin rate is going to the moon in July and August, especially after a correction of 40-50%, wrote Roman. The dominance of Bitcoin, reflecting the share of BTC in the capitalization level of all cryptocurrencies taken together, began to increase on May 1 and by last Monday increased by 3.1% o 55.4%. Roman explains this phenomenon by saying that the direction of capital flow has not yet changed, and people are still investing in BTC. Therefore, the Bitcoin rate is rising against the backdrop of declining prices for many other digital assets.
However, according to the trader, in the summer the situation will change, and the dominance of BTC will decrease to about 51%, because the season of altcoins will begin, which is characterized by a pump rate cryptocurrencies alternative to Bitcoin. To earn maximum profit, it makes sense to buy coins that have fallen in price by 40-50%, since their value can increase significantly. This criterion is met, in particular, by Cardano (ADA), whose price fell by 44% compared to the March peak.
