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Bitcoin dominance is falling as people turn to ALTs.. it's worth noting that this happened in 2018 and many new investors got REKT when cypto crashed. Only invest for the long-term and only with money you can afford to lose. Crypto moves to higher highs i

Bitcoin dominance is falling as people turn to ALTs.. it's worth noting that this happened in 2018 and many new investors got REKT when cypto crashed. Only invest for the long-term and only with money you can afford to lose. Crypto moves to higher highs i

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by COINS NEWS 37 Views

Tried to post this earlier today before the market crashed some more but sadly the sub doesnt allow images to be posted so have had to use an image hosting site and a text post to substantiate my analysis.

So.. hopefully my images extracted from coin market cap can be found here

I remember the 2018 crash well many consumer investors got burned hard.. the jokes on here went up after the fact.. many suicide hotlines were posted.

In the rally bitcoin had pumped.. after it had started to cool "ALT season" had been declared on here with many shilling this coin or that.

The warning posts never really made it to the top of the sub, this sub also ballooned in subscriptions and although mods tried their best to stem the shilling.. logical counterarguments never surfaced to the top... and many newcomers to the space drawn in to price rally's were burned and burned hard.

Many of those ALTs being shilled then have never recovered properly today. This has left many new investors very, very salty. Many people will have seen comments since from those burned from the last crash that have turned from crypto believers to crypto cynics.

I fully admit... I can't predict the market, no one can.

However, what I can say is the market appears to be turning over from all time highs, many prolific crypto vets are calling a bubble, people haved moved on from bitcoin as it's cooled to start speculating and investing in ALTs many legit, many crazy. Bitcoins market cap is dropping against ALTs. The gains to date have been crazy. And the subs in Reddit have ballooned.

These are all metrics evident in the last substantial market crash.

What I would say is don't worry.. there will 3 times the negative news stories about the bust than the boom. Media and cynics will call the death of crypto.. the weak hands will be shaken out.

All those who bought at top and sold out at the bottom last time.. would have most likely be in substantial profit today if they hadn't sold.

This post might be conceived as being against ALTs.. which couldn't be further from truth.. diversification in a range of cryptos is always a good strategy.. but it's worth while DYOR and investing in those that you personally think have good merit, not jumping on board a hype train.

Just over a year ago.. Bitcoin could be bought by true believers at as little as $4000. Crashes are sales.

Similar times will come.. that's why HODL and BUY THE DIP are trademarks the community.

If you're over leveraged and have money invested that you can't afford lose.. I would suggest now's a good a time as any to rebalance.

If you've made some profit.. there's nothing wrong with taking some.

Crypto moves to higher highs in bubble cycles.. long-term it's not going anywhere and will always outperform FIAT.

Thanks for reading, if this helps one person then job done.

All the best and happy cryptoing! ????

submitted by /u/jam-hay
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