As we all have noticed, the ctryptocurrencies are dropping in price, basically it looks like bear market. Reading some articles in the Binance square or through the internet, I saw people telling that the market will rise without stopping because of
$BTC halving and because of BTC ETF approval, and here is the trap. You need to understand that the market don't follow the logic or the news, you can never be 100% sure in crypto market, so, slways think by your own head and analyze the market.
And now the altcoin market is at the lowest point of the year. But why?
NO MORE STABLE COINS LIQUIDITY
If we analyze the market cap chart of top 4 stable coins we can see that from october 2023 to april 2024, the stable coins market cap was growing fast, but now, since april 2024, it stopped rising and entered an accumulation zone. What does that mean?
This means that from october 2023 to april 2024 there was an influx of new money into the market, but, since april 2024 this influx of money has stopped, and sometimes have decreased. This one of the reasons why the market have stop rising.
TOTAL3 DESCENT
TOTAL3 chart shows tha crypto total marlet cap excluding BTC and
$ETH . This chart allows us to see what is happening wtih tha altcoins market.
Observing tha chart we can see that the altcoins market cap is falling, and now it is testing the 570 Billion resistance level, if it break this level it will keep falling until the next resistance level at 520 Billion dollars. If it does, the altcoins market will fall even more.
So, basically, the money is leaving the altcoins market, that's why the altcoins are not rising.
"OTHERS" CHART
This chart shows us the crypto total market cap excluding TOP 10 coins(by market cap)
Similar to Total3 chart, this chart is also falling. So that means that the money is going out from small market cap coins to the biggest one(BTC and ETH). That's why the altcoins market is falling hard while BTC and ETH stand firm.
SO WHAT TO DO NOW? SELL YOUR COINS OR HOLD THEM?
Remember the first rule in crypto market: sell when it grows and buys when it falls.
Now we are falling a lot, it is the best moment of the year to buy altcoins. So don't sell your coins, because after falling they will rise, and rise a lot, like 500% or even more.
Don't sell your coins, and, if you have money, start buying some good projects like: TIA, MANTA, ARB, OP, PYTH, XAI, IMX, ALT, DYM, AEVO, DYDX, AI,
$CYBER , W.
I wish you big profits🔥🚀
If you like my content you can support me with a like, comment and follow
Always do your own research(DYOR).
#TOTAL3 #altsesaon #HN1 #Stablecoins #Altcoins👀🚀