Is altcoin season approaching, would it be a good time to buy?
Hello friends, if I actually had a crystal ball for a few minutes I would dare to say that we are following the typical path towards an altcoin season since bitcoin is going up now it broke above 44,200 in the last few hours.
Although it has now corrected a little, staying above 43,800 for so long is incredibly bullish, this is absorbing all the liquidity in the market and it only takes a little time until bitcoin stabilizes and money begins to flow into ethereum and large caps It is probably time to focus on solana on chainlink, steem among others.
It must be taken into account that the top altcoins by market capitalization can begin to rise more than bitcoin and then many will feast when liquidity begins to flow from bitcoin to other cryptocurrencies with the low caps. Meanwhile, the bleeding of short liquidations does not stop, all those who bet that the price would fall are being wiped out.
For that reason, when I see a large mass of traders pointing towards the same thing, I usually distrust that bitcoin will do the opposite because now everyone is pointing to a triple top and subsequent correction and I also include myself in that, but let's be honest with those of us. giants that are in charge of moving prices know it and perhaps it is too obvious that a strong correction in the price of bitcoin will come.
To create more expectations, a rather suspicious news appears, a headline that has been invading the networks in the last few hours, a fund from Qatar that appears out of nowhere with plans to invest 500,000 million dollars in bitcoin, this type of news will not be a bit exaggerated. to create more fomo but in reality we must believe a quarter or a third of bitcoin This news or maybe less.
Since in most cases they tend to be, as I said, to create fomo that considering considering investing could be true. Yes it is, another thing is also speculating on the effects of a news item and not on the news itself, that is, investing in anticipation of the fomo that could produce if we are among the first to know, if it were real it would be an immense investment by Qatar.
The Qatar sovereign fund (QSWF) would be responsible for managing the wealth generated by the nation's oil and gas, but to take a little bit of magnitude, if this were the case, the investment would exceed 671 times the investment of Michael Sailor with microstrategy that a Today it holds 174,530 bitcoins, so we are a little skeptical, let's say quite skeptical since according to rumors on the networks, the Qatar sovereign fund only has 475,000 million dollars, so I imagine they are going to go out and borrow and place 100% of their holdings in bitcoin, leaving them without reliable capital, which is why I don't believe it.
Currently, many cannot believe the news that comes out since, failing that, 60% is false. This is only to try to create fomo so that later the big whale will come and sell and take our investment, so we must act with great caution. in a very volatile bitcoin. What I do know is that altcoin season is approaching.
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This is an interesting post you have shared, I feel one should buy with caution as there will be fake project coming up
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