Bitcoin Holds Alts Back.
Anton here, SIMETRI’s lead analyst.
Bitcoin is in the market’s spotlight, nearing previous all-time highs around $19,600. At the same time altcoins are stagnating.
Based on historic trends, however, when Bitcoin calms altcoins will see explosive growth. SIMETRI’s Pick of the Months are well-positioned to see massive gains when this happens.
The projects recommended by SIMETRI have strong fundamentals and sound catalysts for near-term price growth. These are the altcoins that are poised to surge when Bitcoin consolidates in the coming weeks or months.
You won’t find any sell signals this week because it’s too early considering what’s on the horizon. If it’s another repeat of 2017, we could see some projects experience 10x growth in a matter of months instead of years. Now is the time to ride the wave.
Crypto Market Overview: Bitcoin Holding Alts Back
The total amount of money circulating in the crypto market is finite. This cash is unevenly distributed across thousands of assets—with the bulk of that investment going into Bitcoin.
The most important ratio to watch when it comes to altcoin season is BTC Dominance. This metric reflects how much money is sitting in Bitcoin compared to the rest of the market.
Altcoins are highly sensitive to Bitcoin prices and retail interest in the crypto industry. Previous market cycles show that altcoins tend to falter when Bitcoin sees big price moves in either direction.
But, altcoins tend to experience eye-popping gains when Bitcoin shows strong growth and then consolidates. Right now could be such a time.
During the summer alt season, DeFi tokens surged when Bitcoin was trading sideways. BTC dominance also dropped during this period.
Bitcoin’s price during the DeFi summer of 2020. Source: CoinGecko.
Bitcoin dominance. Source: TradingView.
In Autumn, however, the balance of forces reversed. Bitcoin surged to near all-time highs, causing a flow of money out of DeFi projects and altcoins.
Bitcoin (orange) vs. total altcoin market cap. Source: CoinDance.
Once Bitcoin starts trading sideways altcoins will likely surge. This is when the SIMETRI portfolio will really shine.
Get Ready for Explosive Portfolio Performance
While the overall altcoin market stagnated, the SIMETRI Picks of the Month showed strong returns. Since last week, the portfolio’s ROI increased by over 13.2%, with total gains going from 469% to 531%.
Pick of the Month ROI performance against Bitcoin and altcoins. To view live data, click on this link.
