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?
You can sell your altcoins now before it gets even worse, alt coins aren't going to pump soon and even when they do, only the big projects with high market cap will pump because they have the most trust at the moment from investors.
The altcoins season is coming after Bitcoin cross its previous all time high because that's when people will start believing we are in a bull market and for that to happen, Bitcoin halving has to have been done which is happening next year.
Sometimes it's better to take some loss and move on than to lose it all because we were waiting for a recover but the market or that particular project didn't recover. If you want to buy Bitcoin, don't hesitate, buy it immediately.
I think you are wrong about altseason not being anytime soon. Almost the whole market is growing now and it looks like the beginning of altseason is now. Look at the market capitalisation of altcoins or the bitcoin dominance chart. All indications are that a good market growth may start soon. Bitcoin does not need to break a new price high for the altseason.