I have decided I have too many altcoins in my portfolio and want to convert up to half of them into Bitcoin but I am waiting for the next pump like we saw in January to do this as don't want to convert while my altcoins are 20% down.
I have only been in crypto last 12 months so not that experienced when it comes to understanding cycles. Do we have any idea when the next altcoin season is due?
Converting half of your capital to Bitcoin is also not a bad decision.But whenever Bitcoin crosses 28,000 and goes towards 30,000, the altcoin season is very likely to start.And when the season of altcoins starts, all the altcoins will show a huge pump.The bear cycle is almost over and the market will go up after that.It would not be a good decision to sell altcoins at this time.If your alt coins are down 20 percent, there's no need to panic because the next bull season can give you huge profits.The chances of the bull season starting around late 2023 and early 2024 are high.If you have selected good and strong projects then you should hold your altcoins.Because bull season is coming soon.And almost as many experts are saying that the bull season in 2024 can give huge returns.