April 9, 2024
3 Steps to Maximize Your Altseason Profits
Dear Subscriber,
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| By Bruce Ng |
I wrote a bit about altcoin season — or altseason — previously.
As a quick reminder, that’s when Bitcoin (BTC, “A”) stops leading the market and other coins outperform.
While the memecoin and AI sectors are pumping to kingdom come at the moment, I don’t think this is the start of the real altseason just yet.
This chart marks the differences between a true altseason … and just one or two sectors doing well while Bitcoin still leads …
So, if we’re not in a true altcoin season just yet, the question remains …
When Will Altseason Occur?
I think we are really close. Let’s look at TOTAL3. That’s the total crypto market cap minus BTC and Ethereum (ETH, “B”):
Figure 2: TOTAL3.
Click here to see full-sized image.
TOTAL3 now sits at $724 billion. I think we get a full-blown altseason when TOTAL3 blows through its old resistance of $836 billion.
In fact, TOTAL3 rallied with strength from the yellow line near $500 billion to previous all-time high resistance marked by the red line near $800 billion earlier this year.
But Bitcoin’s recent correction has pulled enough altcoins down with it, causing TOTAL3 to dip … but only slightly. As you can see from the chart above, it is still very near that overhead resistance.
If the broad altcoin market can hold out — and recent strength shows that is likely — then it won’t take much for TOTAL3 to be able to break $836 billion and then some.
Once that happens, I believe we’ll be able to ring in this bull market’s altcoin season in full force.
But here’s the cool part: You don’t have to wait for the start of altcoin season to get in on the wild gains that can be found in crypto.
Indeed, there are still plenty of amazing profit opportunities in altcoins you can get in now … before they rally in the altseason. The trick is finding the best ones.
So here are three steps you can take now to maximize your profits in the coming altseason:
- Identify the strongest sectors/narratives pre-altseason and buy them. We can still make a lot of money, altseason or no, in these sectors. Just look at memecoins and AI coins over the past month. I wrote previously which narratives I’ll be watching this bull market here.
- Hold these sectors through into altseason and until the end of it.
- Sell altcoins at the end of a parabolic advance. (And don’t worry. I’ll be showing you how to identify a “parabolic advance” next week.)
These steps may seem simple. And if you’re already familiar with doing your own research to determine which cryptos to target once you’ve narrowed down a sector, they likely are simple.
But if you’re looking for a little more guidance on how to find and time the best growth opportunities in the altcoin market, I suggest you watch my colleague Juan Villaverde’s urgent briefing, 205x Better Than Bitcoin.
In it, he breaks down our “backdoor” buying strategy that helps us maximize potential returns to turn 2x, 9x and 10x crypto opportunities into 20x, 344x and even 816x winners.
If you’re interested, I urge you to watch it sooner rather than later. This briefing will be taken offline later this week.
And with the Bitcoin halving scheduled for April 20 — a historically bullish event — your window to load up on the most promising growth opportunities in crypto is closing.
Best,
Dr. Bruce Ng
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