Everyone is talking about the season of altcoins coming, but I think it's still early.
You see, the main force just 'washed' the retail investors, getting them stuck, and then started to pull them up to get them out. Isn't that digging a pit and jumping in!
For the altcoin season to really come, there must be two conditions: first, the main force must hold enough chips, and second, Bitcoin must rise again. Neither of these conditions can be solved overnight; it takes time.
Looking at the weekly chart, Bitcoin almost rose for seven consecutive weeks recently, but now, it has only dropped for two weeks, and today is just Tuesday. So, I don't have a good outlook on the upcoming trend; it feels like it will need to drop for a while longer.
But that doesn't mean altcoins won't rise; many altcoins are already close to their historical lows. Although we can't say there is an absolute bottom for altcoins, relatively speaking, there isn't much room left for further drops.
The current rebound in altcoins may be just to leave some space for a possible correction that might come later. Otherwise, if Bitcoin keeps dropping, many altcoins will hit new lows.
Today, Bitcoin fell below 94,000 again, but most altcoins seem to be rebounding a bit. Today's greed index is 73, indicating that the market still has quite a bit of confidence in the short term.
As for price fluctuations, no one can settle it all at once; the main force's tactics are simply to create panic and delay time.
However, I still have a lot of confidence in next year's market; let's be patient, the opportunity is waiting for us not far away!
Are you stuck? When is the right time to buy the dip? As always, if you feel lost and don't know what to do, just click on my avatar to follow me.
