All you need to know...
If Bitcoin starts to look rocky, just remember one simple chart...
If bitcoin starts to look weak or shaky, just remember that the breakout hasn't even happened yet.
Nothing right now looks any different than it did the previous 2 other halving cycles...
If you start to waver on bitcoin, just remember one simple chart...
(Source: https://twitter.com/CassidyPowell5/status/1265263478643752963)
Bitcoin has created a triangle pattern each and every time leading into its halving event.
Then, shortly after it has broken out of it to the upside and start a massive bull run that takes prices well beyond previous highs, multiples of previous highs in fact.
When looking at this it's hard not to buy a bunch more...
When looking at the above, I'm not sure about you, but it makes we want to buy a whole bunch more.
Keep mind though, I fully expect altcoins to have their day in the sun again as well, in fact many will outperform bitcoin.
So, this doesn't mean sell your favorite altcoin and buy bitcoin, it means get that money out of the negative interest rate bank and buy some more bitcoin!
Or sell some blood, after all, the world could always use some more of that!
Stay informed my friends.
-Doc
But we want to drink our blood... Why would we want to sell it...
Because then we can get more bitcoin!
Who wants more Bitcoin... There is a lot easier ways to get altcoins than buying with Bitcoin...
bitcoin is likely to run first, then you can sell some of that and put it into your favorite altcoin.
I personally think it takes more Bitcoin to push prices up that it takes Litecoin or Ethereum... Mainly because everyone expects people to hoard Bitcoin because it usually climbs up more than Litecoin or Ethereum.
I'm counting on the slingshot effect that happens when climbing up of Bitcoin slows up and people move on other big currencies before pulling up the smaller altcoins.
It is a smart play. I am hoping for the bitcoin suck to play out in full effect, where bitcoin runs and pulls value from all the altcoins. Then after a time, bitcoin slows down and you can move profits from btc over into depressed altcoin prices.
No guarantees it actually works out like this but that is my hope. Either way though there is a very good chance many alts outperform bitcoin even if bitcoin goes up 10x from here.
As I already mentioned earlier, I did actually buy some Bitcoin, but I did also buy some Ethereum and ERC20 tokens... When I have extra money to spend again, I will also buy more Litecoin and few other more common cryptocurrencies.