Some time ago I was watching a video on youtube when someone who has been trading bitcoin for a while says the time to sell bitcoin is when altcoins start to rally. If anyone knows who this youtuber is please let me know.
I forgot exactly the details of what he said.
Basically, it was when altcoins start rallying this happens late stage bitcoin rally and this signals that bitcoin will have a correction and it makes sense to sell your bitcoin at that time.
Can anyone please let me know if there is any truth into this because I don't buy or care about altcoins and think they are junk. So when I hear that they are exploding in value and even in polls bitcoin is not the #1 pick or even #2.
I can't remember a video that I watched saying that, but based on what you shared, that YouTuber is saying that the altcoin season might start anytime.
What investors do is that, when they feel that Bitcoin has already peaked, they will sell their Bitcoins, and that lowers the Bitcoin Dominance (it's happening currently), then after that, they will try and put it into altcoins to gain more profit since altcoins tend to move a little bit late compared to Bitcoin, and it's because of this reason. For me, altcoins are also a good investment provided that you focuses more on the top ones, and that's why we see top altcoins exploding. Investors transfer their money from Bitcoin to altcoins.
Bitcoin 20%
Ethereum 25%
Solana 10%
XRP 45%
16.4k votes[/b][/i]
People are now picking XRP and Ethereum over bitcoin.
To me this may signal something if we look at past bitcoin trends and what this youtuber was saying that the time to sell is when altcoins start to rally. I am hearing more about altcoins now than bitcoin. I sense trouble coming.
Hearing more about altcoins than Bitcoin doesn't mean trouble, and you're just saying that probably because you're focusing more on Bitcoin that you forgot those altcoins already. There's nothing wrong with that though. What I'm saying is that, there's also an opportunity in altcoins, and not only in Bitcoin.
45% on XRP? Maybe it's because there are many who believe that XRP has more upside than the other 3 coins hence, the more votes, or maybe because many believe that a Spot XRP ETF will happen soon. Anyway, this YouTuber that you said can be right or wrong, but don't blindly follow what he said. Focus still on your convictions. Focus on what the chart is saying.