BTC breaking upwards as expected and altcoins dumping

As it always happens in crypto, sooner than expected. Breaking the 5000$ ATH in the next few weeks seems an almost sure thing now. And very possibly that would happen in the post-bitcoin fork this October (about 2 weeks from now). This October second fork of BTC doesn’t seem to have any effect on the BTC market, as the two main Bitcoin “parties” were already separated with the BitcoinCash fork this summer.

The only relevant effect this fork seems to have, is the sell-off of altcoins in general. The theory “people selling alts to get free BitcoinGold” seems to be popular nowadays, and in fact altcoins are dropping steadily these days with LOW VOLUMES. And that’s an important fact, because the drop in altcoins is mainly produced because the LOW LIQUIDITY in the markets, not because the X fork or Y furk. It’s well known from the people of the sector, that altcoins always have a notorious low-volume low-liquidity cycle during the year. We’ve been in that cycle for already 2-3 months, and it could perfectly continue for the next 2-3 months, even more (last year altcoin “stagnation” period also lasted for 6-7 months).

This current status can be painful for altcoin holders, who see how their portfolios lose value, even when BTC goes up in price. Most probably correct action nowadays would be to sell every altcoin outthere, stay with BTC, come back in some months, and buy every altcoin bottom like there was no tomorrow. For obvious reasons (big altcoin volumes in our hands + low liquidity conditions, we’re not going to sell a single altcoin and we’re going to keep them, even knowing that most probably they will keep dropping).

For the little investors, newcomers, and excited people that came for amazing returns, my advice is this one: Save your fiat or BTC, save as much as you can for the next altcoin season. We’re in a very very similar situation as 2016 October (market dynamics, not total market cap), which means that probably there will be another “golden era” to invest in altcoins in a few months (buying the bottoms), and who knows maybe repeat similar returns of this year. That would be truly legendary, but definitely possible. After all, we’re in a Mega-Bull cycle, right?

Enjoy.