I've only been trading crypto for around a year, but I've noticed the same patterns repeating over and over again.
- Bitcoin takes off and alts are slaughtered
- Bitcoin retreats, and money flow into alts and alts take off.
- The entire crypto market consolidates, and both Bitcoin and alts fall
- Crypto market recovers and both Bitcoin and alts recover together (This phase also happens when new money flows into the entire crypto space)
What do you think? Does that adequately reflect the crypto cycle?
At the moment, unfortunately we are in phase 1 and most alts are getting slaughtered. But be prepared for phase 2!