Strong Moves Into Altcoins In The Fourth Quarter

B1HC...QpyA

15 Sept 2024

It’s Ironic
Altcoins are where the money is made in the Crypto market, more specifically, micro-caps. It is then rather ironic that altcoins are down more than 60% from their local highs in the heart of a bull market. This doesn’t disqualify altcoins from producing stellar returns in the remainder of the bull market. In fact, for those who act now, it could be one of the most lucrative moves relative to time in the market.
Choosing good entry and exit points enables investors to spend limited time in the market and still profit enormously. In certain instances, beat long-term investors. However, it’s a difficult task to perfect. Furthermore, rumors are circulating that Coinbase is providing BlackRock with IOUs and that they are artificially suppressing the market. I would not be surprised if this is true. However, for now, it remains speculative.
Certain altcoins such as Polkadot and others have retraced as low as their bear market lows. This is disappointing for HODLers but amazing for new investors, or smart investors who have been sitting on stablecoins. Perhaps, even earning additional yield by utilizing HBD. An APR of 15% on a stablecoin is an excellent return, especially as investors maintain control of their private keys.
Strong Moves Ahead
I envision significant moves in the altcoin market in the coming months. This is a prime zone for accumulation and is likely to draw to a sudden and immediate close. Market participants cry when markets correct, but also when they take off, albeit for different reasons. The trick is to choose the appropriate course of action in each scenario. Investors usually get confused regarding these scenarios.
They don’t buy when they should and buy when they shouldn’t. It’s an unfortunate tragedy. You know the old saying:

You can lead a horse to water but you can’t make it drink.

Similarly, you can show investors the most beneficial practices, yet they can choose to be dominated by their emotions. This is the predominant behavior regarding retail investors and is unlikely to change, considering it is based on human behavior.
Altcoins have been waiting in the wings and are about to take the stage. It’s pretty much now or never. In a recent article regarding the HIVE price, I suggested that the bottom is likely in. I refrain from making bottom calls unless convinced the market has run its course. I am picking up a fair amount of confluence that this is indeed the case, regarding HIVE and the broader altcoin market.
Another point worth considering is the fallout if altcoins fall significantly below their bear market lows. This is highly unlikely and is another confirmation that the bottom is likely in for altcoins in general. The lows could be retested, but it would likely require a swan event. The fact that prices are increasing on shrinking volume is the only indication that prices could retest the local lows.

Free Avalanche (NEW)

Final Thoughts
Even if prices were to retest the lows, the likelihood of a continuation to the downside is minimal, ultimately suggesting that the bottom for altcoins is in. A deeper correction would mean one of two scenarios. Either, the cyclical behavior of Bitcoin and altcoins has been broken and is in a state of adjustment, or altcoins are headed into a multi-month corrective period.
As mentioned, I expect altcoins to begin attracting new investors and fresh capital, ultimately leading to higher prices within the altcoin market. Patience is of the essence. Being level-headed helps too. A window has opened for altcoins. Will they take advantage of the opportunity? All the best, have a great week and I will see you next time!

Earn Free LEO & HIVE

Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.