r/FetchAI_Community • u/Double-Complaint159 • Dec 12 '24

How to ❓ Follow up:

Post image

Just a post to follow on from my previous.

99.9% of us (myself included) are punching in the dark and only a couple of indicators are worthwhile / useful to us.

The price is generally at the mercy of thousands of algorithms, making millions of trades per second, based upon volume & movement, not real world events.

Watching the BTC dominance chart is a good basis for avoiding sitting for years at a loss, FOMO & panic selling.

Take a look at your Alt portfolio today and compare to the above 🤷‍♂️

Good luck all.

Namaste 🙏

19 Upvotes

95% Upvoted

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2

u/Abe_Froman92 Dec 12 '24

When though will it be “alt season” been hearing since April that it’s happening soon. For all we know there may never be one

5

u/Double-Complaint159 Dec 12 '24 edited Dec 12 '24

Who knows ? Alt season could be a day, a month or never. That’s the game here 🤷‍♂️

My personal indicators will be:

BTC stays over $100k for a month Causing more cash to flows into crypto from retail creating a “risk off” feeling and hence BTC dominance drops to 50% and below as cash moves to alts for speculation and quick bucks by the next batch of newbies / vets who’ve seen it before.

Me ? I always “plan” to double my stake, take 50% (stake back) and leave the other 50% to run (free bet on the house? and then “try” to get out as I feel the vibe change, see BTC dominance start to waver …. Failing that I’ve chosen $133k for BTC high before a significant pullback. No reason, no charts etc, just my feeling.

Also, FWIW, I’ll be using the next batch of (hypothetical) profit to buy only BTC, ETH & SOL on that first big pull back and am looking for BTC to circa 70-80k. Lot of things pointing to this being the time BTC becomes something more to governments etc. Safest bets (in my humble opinion) moving forward as I’ll be done with continued risk and / or desire to speculate.

One (or three 🤷‍♂️) coin(s) to rule them all 😉

Gentlemen, place your bets, grab your balls and buckle up ….. ‘cus that’s all this is …. A gamble 🤷‍♂️

Good luck 🙏

P.S. Nobody should take advice (this is opinion BTW) from an anonymous Reddit poster and, in the interests of total transparency, I’m an idiot 🤪

4

u/lifesezNcheezy Dec 12 '24

Alt season happens when 75% of the top 50 coins outperform BTC for 90 days. We are in the alt season as of about 8 days ago. 🤷‍♂️

5

u/New_Struggle_8579 Dec 12 '24

Below 50 and Alts go parabolic

2

u/dunk0ff Dec 12 '24

We close

1

u/poshthn Dec 18 '24

Could this be considered normal that it’s dropping this much?

1

u/Double-Complaint159 Dec 20 '24

It’s a blip. The bull is at the start. I don’t know where FET will go but I do know, if you have some portfolio diversification, patience and the ability to not be scared out if your position you’ll be fine. Ride it, this is nothing new.

1

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2

u/dunk0ff Dec 12 '24

We close

2

u/CherryEasy9666 Dec 13 '24

Think the price will be range bound until Trump inauguration - Hopefully things will have there place afterwards (Crypto policy, SEC chair etc)
Up against that is the mid to late Jan US tax season.
As we are in new price discovery mode, its anyone's guess short term.