The post Altcoin Market Gains $106 Billion in Four Weeks: Is This the Best Time To Buy Altcoins? appeared first on Coinpedia Fintech News
The altcoin market gained about $106 billion in the past four weeks after investors experienced a choppy twelve to eighteen months. The crypto relief rally has consequently triggered mixed feelings amid high expectations of the end-of-year rally. Historically, Bitcoin and the altcoin market have rewarded holders handsomely in the weeks leading to December 18. As a result, speculations on the continued crypto rally have tossed traders into profits and losses amid heightened volatility.
Betting on altcoins now is likely to have higher returns than Bitcoin due to the diminishing returns impact. Amsterdam-based cryptocurrency analyst Michaël van de Poppe argued in a recent tweet that if your portfolio is well positioned in the next six months, then you can expect more gains amid slow altcoin breakouts. It is worth noting that Poppe based his bullish altcoin move on the historical four-year cycle marked by the Bitcoin halving event.
The crypto analyst gave an example with Ethereum (ETH), the leading smart contract and DeFi blockchain with over $23 billion in total value locked (TVL), which experienced a rally of 60X during the 2021 bull cycle. Consequently, Poppe urged traders to cautiously adjust their portfolio by taking small profits of 5-15 percent after a 10 percent pump. Conversely, the analyst urged altcoin traders to reallocate more funds after every 20-50 percent dip during the relief rally as they present healthy opportunities.
#PriceAnalysis #Altcoins [Source: Coinpedia]