Crypto Analysts Share Tips On How To Maximize Profit During Upcoming Altcoin Season

Now that Bitcoin has begun to cool off from its bullish rally from yearly bear market lows, as the price of the leading cryptocurrency stabilizes and consolidates, the pause presents an opportunity for altcoins such as Ethereum and Ripple, to recover ground lost to Bitcoin on each trading pair’s ratio.
As most altcoins have reached a historic average drawdown, and all signs are pointing to an altcoin season on the horizon as profit from Bitcoin is taken and invested into other cryptocurrencies for additional returns. Those who lived through past altcoin and Bitcoin bear cycles are sharing their past learnings with the crypto community, offering up tips on how to maximize profits during the next alt season.
Bitcoin Analyst: How to Spot an Alt-Season Before it Begins
Following Bitcoin’s highly-publicized, media-fueled frenzy at the tail end of the 2017 crypto market bull run, the entire crypto market and all of its individual cryptocurrencies feel in value, ranging from 85% to 99.9% in losses.
Related Reading | Altcoin Trader: Alt Bitcoin Bear Cycle Almost Over, 600% Gains During Bull Cycle Expected
As these cryptocurrencies have found their bottom in terms of USD, a short-lived alt season had materialized in early 2019 that saw many altcoins doubling in USD value. Most altcoins had outperformed Bitcoin, especially Litecoin which appeared to lead the crypto rally ahead of its halving. The tightly correlated relationship between altcoins and Bitcoin helped carry Bitcoin out of the depths of the bear market to the current highs.
However, following Bitcoin breaking above $4,200, altcoins began an inverse correlation with Bitcoin, instead falling in value relative to BTC while Bitcoin soared, only further growing Bitcoin dominance.

US Global Investors CEO: Bitcoin is Great But Millennials Need to Learn About Gold
Friday May 17, 2019

The CEO of asset management firm US Global Investors has given his opinions on the Bitcoin and wider crypto market, and how it relates to that of gold. Frank Holmes is of the belief...

The post US Global Investors CEO: Bitcoin is Great But Millennials Need to Learn About Gold appeared first on 12bitplay - Bitcoin Play.

#ALTSEASON Checklist:
1. #Bitcoin rallies
2. Money begins to flow from $BTC to Large Caps like #Ethereum
3. $ETH breaks above 200 EMA (i.e long term gauge of investor sentiment)
4. Decline in Bitcoin Dominance
5. Money flow from Large Caps to Mid Caps & Low Caps
— Rekt Capital (@rektcapital) May 14, 2019

Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby
Monday May 20, 2019

ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The price tested the $265 level and it is currently correcting lower towards the $240 support. There is...

The post Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby appeared first on 12bitplay - Bitcoin Play.

A break in Bitcoin dominance is the 4th signal in one cryptocurrency analyst’s checklist for the conditions to create an alt season. This step happens after Bitcoin rallies, and money begins to flow into large cap altcoins like Ethereum and Ripple – the number two and three cryptos respectively.
After Ethereum breaks above the 200 EMA, which happened in recent days, that fall in Bitcoin dominance should begin. That’s when money will begin to flow from large caps to mid- and low-cap altcoins.
Knowing this order of events and flow of capital from Bitcoin into large caps, then into mid- and low-caps can be added to any trading strategy to maximize profits.
Remember to Realize Profits on Crypto Gains During Bull Runs
Should crypto traders find themselves in the midst of a full blown alt season, crypto analyst Panama Crypto suggests taking profits on the way up, while also leaving a “moon bag” reserved for the off chance one crypto significantly takes off.

Ethereum (ETH) Price Grinding Higher: Fresh Rise Above $265 Likely
Wednesday May 22, 2019

ETH price is slowly moving higher and it is currently holding the $250 support against the US Dollar. The price is likely to gain pace above the $265 and $270 resistance levels in the...

The post Ethereum (ETH) Price Grinding Higher: Fresh Rise Above $265 Likely appeared first on 12bitplay - Bitcoin Play.

Things I wish I knew last altseason:+Take profits on the way up+Always leave a moon bag+Chose quality over quantity of projects+Do not chase green candles+If you achieve a life changing amount of profit, realize gains and run+Don’t be greedy+Hodl only works on the way up
— Panama Crypto (@Panama_TJ) May 15, 2019

The best advice the trader gives, is a reminder that if a “life-changing amount of profit” is ever gained, to realize profits and “run.”
Related Reading | Crypto Analysts Call For the Death of Altcoins, But It Could Be a Lucrative Buy Signal 
Many cryptocurrency investors at the height of the last bull run saw their portfolios reach values they never dreamed of, but greed and fear of missing out caused many to miss their opportunity to realize profits, and were forced to hold through the longest bear market on record. It’s worth noting that profits are never actually profits until realized, and the crypto is cashed out into a fiat currency.
The post Crypto Analysts Share Tips On How To Maximize Profit During Upcoming Altcoin Season appeared first on NewsBTC.

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