If you have been following the markets the past couple of days then you would have noticed how significant the price action has been. The price of Bitcoin remained relatively static while the majority of Altcoins saw significant gains. Many believe that we are on the verge of altcoin season but what does this mean exactly?
Altcoin season refers to the time in the market cycle where Bitcoin dominance takes a step back and allows various altcoins to blossom. Such are the gains in this cycle and previous ones that you can almost select a coin at random and the likelihood is that you will see some form of profit. We don’t recommend you do this of course but it is a great indicator of how easy it can be to make money in a bull run.
The Calm Before The Storm
It is always worth stating that the best time to invest in a coin is when there is a calm serenity surrounding it. If you choose a coin with a good team and solid fundamentals then their time to shine will undoubtedly come. The problem with riding a wave is that you might have to experience a massive fall which has every chance of denting your portfolio. If you had invested before this then this will be a natural correction, but if you did it halfway through then you would not be utilizing your full potential.
Time To Pick Up Some More ETH?
Here, we believe that Ethereum is one of the safest investments you can make. Similar to Bitcoin, Ethereum is by far the highest performing altcoin in terms of market cap and we do expect it to outperform Bitcoin in this current bull run.
Numerous predictions from top technical analysis guys and influential people within the crypto universe expect to see ETH hit $10k at least during this bull run which would represent a 5 times gain from where it is now. The reason we recommend ETH as a good buy is that you can expect to see great returns and the risk involved is much lower than other altcoins due to its popularity and strong usage and fundamentals.
However, if you are looking to see astronomical gains then you will need to choose coins with a much lower market cap. There is almost no doubt that some coins will see massive gains this year but choosing which ones can be extremely difficult. Research and portfolio diversity are two of the most important things you will need to practice if you want to choose this strategy. Read some of our other articles if you want to know what Altcoins we believe may represent good opportunities for investment.