The exchange rate of altcoins has hit a new low again!
There is still a 24% decline space before reaching the "golden pit." Be aware that this decline is based on the altcoin-to-bitcoin exchange rate, not considering the decline against the US dollar.
Those who keep shouting to buy the dip should realize that the lifeline of altcoins is liquidity; without fresh capital coming in, it will just be a rebound. Want a reversal? Haha!
Let me be clear, entering the market now is like catching flying knives. Just look at this exchange rate trend, it’s like sliding down a slide, why? Because there’s simply no money in the market! Without incremental funds, altcoins are like a tree without roots. Those who are hoping for an altcoin season should first weigh whether they can withstand this 24% cut.
Remember this rule: when altcoins go up, they are crazier than anyone else, and when they go down, they are more timid than anyone else. The current exchange rate hitting a new low indicates that funds are still moving from altcoins to Bitcoin. Only when this exchange rate stops falling should one consider taking action. Until then, holding back is better than anything else!
It’s better to have fun together than to have fun alone, give a follow, and share daily trading strategies!
