Why should I invest in Altcoins at all? That only makes sense if Altcoins performs better than BTC. The chart shows the inverted BTC dominance. At 50%, the market capitalization of BTC is balanced against all Altcoins. Currently, BTC is at a level of 64%. This means that 64% of the total market falls to BTC, the remaining 36% is divided between all other coins.
Of course, you can land a special hit with one or the other Altcoin, but that's more like gambling. Therefore we should take a look at the market for Altcoins in general: Can Altcoins become more important? YES! The current target is around 52-54% BTC dominance. The lowest point was at 73% (highest BTC dominance).
We cannot judge the time before Mid of 2017. At this point the most Altcoins have been created.
Currently, it looks that the trend line will hold. This means that the time for Altcoins has generally come again. This also means that the whole market is still bullish.
Therefore, an investment split between BTC and Altcoins would make sense. Which Altcoins are interesting for an investment? Here I have a clear opinion: the top coins are good. I would not recommend exotic ones. Okay, with exotics you can make 100% and more in a week or a day, but that's gambling imo. Of course you can invest in a coin, if it is a real specialty and you understand the technology behind it. But I would be careful.
And another thing: I always recommend to analyze Altocoins against BTC, because BTC is the leading currency in the crypto market.
Thanks for the info buddy. I am already in alts as they start to shoot out once in a while and outperform BTC. Guess @alanmasters knows all about it ;)
Also the fact that those non-stop coins happen to be scams and vanish from the market after exploiting general bullish sentiment.
Btw @btcinvests do you think "correction" on BTC is over or is it rather bouncing lower to revisit next support?
Happy trading!
BTCINVESTING
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@schizaar, hi, thx for your comment. good to hear. at btc... my last post is still valid. currently we see more sideways up. and then hopefully the next big step up. :-)
blocks2chains
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I love your work. What do you think about ALts against BTC now? BTC seems to be unstoppable but I can see Alts dominance bounced off the support again. Will it hold?
BTCINVESTING
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@blocks2chains, right now i see for the whole market a pullback. not too much. look at the chart i send you at your other post. alts will go down in the same way. at the end they will shoot up more than btc, but it need time. we must look at the situation of xrp. if the law stuff will go negative, this will draw all alts down if they not completly dezentralized.
cd_kagaya
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coinmarketcap.com/charts/ it seems like a bitcoin's dominance cycle from Jan.18, it's a long-term cycle
BTCINVESTING
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@cd_kagaya, well, lets see. now the top is near at btc.
Also the fact that those non-stop coins happen to be scams and vanish from the market after exploiting general bullish sentiment.
Btw @btcinvests do you think "correction" on BTC is over or is it rather bouncing lower to revisit next support?
Happy trading!