What should we do in the current alt season?
BTC continues to dominate, and has been fluctuating at a high level for nearly 6 months. The decline of Bitcoin and Ethereum is not bad, and the alts are polarized. Weak alts generally fall by more than 90%.
Many people are looking forward to the arrival of the alt season. First of all, the money-making effect of this round of bull market is indeed poor. In addition, in the past few months of fluctuations, new and old leeks have been washed out. The contract should explode, and those who can hold the spot don’t care about the fluctuation.
Since the end of 2022 and the beginning of 2023, it has been following BTC-ETH-alts to make up for the rise-MEME dog-slump. The ETH/BTC exchange rate is the most direct way to judge whether ETH can make up for the rise or bring about the alt season. At present, the exchange rate has been falling all the way since it fell to a new low on 8/05 and has not yet recovered.
The alt index is indeed in a relatively low range, but it is also the alt season of 20% of tokens. It is difficult to rise generally. The alts are polarized and are increasingly tending to US stocks and Hong Kong stocks.
In the past few days, Binance’s small-cap MeMe has risen by dozens of points every day, giving people a feeling that the alt season is coming. Dog dealers treat these small-cap projects that have fallen by more than 98% as MEME. The big pie is consolidating at a high level. Now is the alt season, but the alt season has not yet come. Only play BTC, ETH, SOL, don't get too excited and control your positions.
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