The market has been wildly optimistic recently. Bitcoin is posting new all-time highs almost every day, with minimal price drops. If you hold cryptocurrencies, the chances are that your wallet is much more wealthy today than a couple of months ago, no matter what you own.
The whole market has been on a tear, mainly thanks to the Bitcoin's parabolic price growth, which offered a tailwind for most of the Altcoins. Ironically, while diversification is a widely praised approach, a portfolio fully invested in Bitcoin was the most profitable option lately.
In early November, we suggested that the breakout of Bitcoin was behind the corner, just looking at the underperformance of Altcoins in BTC prices. Since then, Bitcoin more than doubled in price, and the rest market has trailed behind it by an average of 30-40%. Today we are in the opposite situation where Altcoins just fell at the cheapest valuation compared to Bitcoin since the bottom of the Bear Market. A rebound from here would have around 90% of upside potential.
And that would only represent a mini-Altseason like those we had in the past two years. Nothing to compare to 2018! If you wonder whether or not to jump on the Crypto train, consider a ticket in Altcoins' class. The trip may be more fun.
The whole market has been on a tear, mainly thanks to the Bitcoin's parabolic price growth, which offered a tailwind for most of the Altcoins. Ironically, while diversification is a widely praised approach, a portfolio fully invested in Bitcoin was the most profitable option lately.
In early November, we suggested that the breakout of Bitcoin was behind the corner, just looking at the underperformance of Altcoins in BTC prices. Since then, Bitcoin more than doubled in price, and the rest market has trailed behind it by an average of 30-40%. Today we are in the opposite situation where Altcoins just fell at the cheapest valuation compared to Bitcoin since the bottom of the Bear Market. A rebound from here would have around 90% of upside potential.
And that would only represent a mini-Altseason like those we had in the past two years. Nothing to compare to 2018! If you wonder whether or not to jump on the Crypto train, consider a ticket in Altcoins' class. The trip may be more fun.