TWO REASONS WHY YOU SHOULD BE CAREFUL WITH BUYING ALTCOINS BEFORE THE BITCOIN HALVING EVENT

Fundamentals:

The Bitcoin halving event from a some couple of weeks away and there is usually a strong price impact on altcoins.

Technicals:

The overall market structure for all altcoins excluding Ethereum is shown in the chart below.

The total market cap of Altcoins has reached a new peak and is expected to experience a retest of the recently broken resistance level, now acting as support, before continuing its upward path in the bullish trend. 📈✨

A very important point to note is this:

Usually, during the Bitcoin halving event, there’s always a significant price drop with all altcoins to the strongest support zone.

The overall market cap will drop to around $790 Billion from $802 Billion.

That’s quite a significant drop.

This analysis is targeted at helping you know when to take profit or if you should still your position.

NFA

Educational purposes