After thinking about it, I think;
It is not true that the current $BTC situation is like the fall of 2020.
The reason is that I don’t think there will be a crazy alt season like the one we had in January 2021. That was the last true alt season we had, where everything went incredibly strong together (sure there were some anomalies, but overall everything was great). The fall of 2020 was right before that.
For the foreseeable future, I think we’ll continue to see a rotation like we’ve seen before: one hot sector where everything is booming, and other sectors that are relatively stable. This is why you see smart people saying we’re “closer to summer 2021 now than we were to fall 2020.”
While alt season isn’t quite here yet, that doesn’t mean we won’t see a ton of pumps:
In 2021, we could see $SOL go from $20 to $250, AXS achieve crazy multiples, SAND/MANA, and some ZK projects at the end of the cycle.
We’ve already seen it in 2024 AI (TAO, RNDR), memes (WIF BONK PEPE), and some Alt layer 1 (SEI NEON TIA).
It just means that you won’t see outsized returns on every coin like you did in the past.
This doesn't mean your shitcoin is dead/forever doomed. It will almost certainly be worth more than it is now.
But if you really want to rise above the average player, you have to choose your altcoins wisely.
$BTC
Support should be found here soon, and many of the shitcoins are expected to bounce back soon. Not saying this is the "bottom", but there may be some temporary relief.
$SOL
First real test of the 200d EMA since Oct 2023. These usually bring rallies, keep an eye out. Still think this will be good for later in the year, but patience is best
$RNDR
From this perspective, the mid-$6 range seems to be the best area to start buying? The current area is support at the 200d EMA, but it has been tested several times.
$WIF
As low as $1 seems reasonable? Some rebound was expected, but it didn’t happen.
