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.
Just look at this stocktwits poll with 16,000 votes:
Which crypto is the best buy right now?
Bitcoin 20%
Ethereum 25%
Solana 10%
XRP 45%
16.4k votes
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.
I remember the rally when bitcoin hit $1,000, soon after altcoins exploded and had stupid prices, than everything crashed.
Wait. You say $1000? So you are an OG or you had just that made out some typo over there. If you've been that having that been too long into this market then it would be impossible that you wouldnt be wary about into the market cycles on which this market could have. We do have that so called cycles on which it definitely be counting when we do speak about altcoins on which it could be shooting up into those ridiculous prices on which we didnt thought that it would be able to reach out those levels. We do even have a Memecoin season on which this time where altcoins be on that sideways movement and same goes with Bitcoin too.
You can be able to make those comparisons in between.
If you are just that new into this market and having those kind of analysis on which having those switching up of trends, then it could actually happen and this has been happening over the cycles and if you do have that experience then you do already know on what you should go. The timing? No one really knows but since you do have those observations or indications then you do at least have the idea on what you should gonna do. There are those times that you do become that being boggling about into the movements on which you do assume that this might be already the start of bull run or altcoin run or meme coin run. You can actually make up some checkings about dominance because once there would be some flippening and weakening then you would be having those assumptions that this might be the start of the trend and you can be able to ride with it. If you do know on what you've been doing then you do able to maximize out such condition for you to be having that advantage but of course we do all know that there's no such guarantee when it comes into this aspect because market is always been unpredictable and there's no way that we can be able to tell on where it would be heading next. Its important that you should set out yourself and be wary about into those different market conditions and sees out on which one do works for you and which one is not. It would be a never ending trial error on this case on which this is normal because market does have that different variations too.