Is this a Good time to Buy Altcoins?
We have been mostly focusing on Bitcoin's price action for the past few weeks as a result of the rapid fluctuations in it's price.
I think most of us have not paid enough attention to the Altcoin market. The Reason for this is , even though there has been huge price movements in Bitcoin, the Bitcoin comparative of altcoins have pretty much remained stable.
But there has been a sort of negative price action with Altcoin's Bitcoin comparative with Bitcoin rising from $6500 to $7500.
I personally think this is a good time to buy into Altcoins and I have also added a small position on some of my Long-term Altcoin Holdings like LINK and BAT.
This is no Financial Advice, have your own research and do what suits you the most.
I am adding in now because the Bitcoin Dominance chart looks Bearish to me.
The Chart has been setting continuous Lower highs which is a good sign for a Bearish Trend reversal of Bitcoin Dominance .
Also note that I am not going all in at this time, I am just cost averaging on altcoins because of 2 reasons.
- The Altcoin Season has not kicked off in full swing
- The Altcoin Price may still go lower from this point
So take this as a perspective from me and you can include this as a tool for your investing if you wish to.
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