{"id":455017,"date":"2021-01-22T00:01:06","date_gmt":"2021-01-22T00:01:06","guid":{"rendered":"https:\/\/wncen.com\/?p=455017"},"modified":"2024-06-11T14:12:53","modified_gmt":"2024-06-11T14:12:53","slug":"altcoin-expert-buy-crypto-that-holds-up-during-bitcoin-breakdown","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-expert-buy-crypto-that-holds-up-during-bitcoin-breakdown\/","title":{"rendered":"Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown"},"content":{"rendered":"

Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak<\/a>. Normally, the bearish momentum in the top cryptocurrency is enough to drag down the rest of the market, but select altcoins are holding up surprisingly well.<\/p>\n

One altcoin expert who has traded his way through multiple bear and bull cycles, suggests watching for and buying any alts that are holding up especially well against BTC during the current drawdown. Here’s a closer look at a few cryptocurrencies that fit the bill.<\/p>\n

Bitcoin Bleeds, But Buyers Focus on Accumulating Select Altcoins<\/h2>\n

Bitcoin and altcoins have an on-again, off-again relationship<\/a>, which is no surprise for the two types of volatile digital assets.<\/p>\n

Bitcoin typically must be bullish or consolidating for altcoins to perform well. When sentiment turns on the market leader, alts take a much worse beating<\/a>.<\/p>\n

Related Reading | Technicals Point To Extended Ethereum Dominance Over Bitcoin<\/a><\/strong><\/em><\/p>\n

This time around, certain alts are holding up against the market’s abuse more so than others, and one expert says<\/a> that those are the crypto asset to buy for the biggest profits in the months ahead.<\/p>\n

That expert is Nik Patel, author of An Altcoin Trader’s Handbook<\/a>.<\/p>\n

\"bitcoin<\/p>\n

Buy altcoins that have held up well against BTC, claims expert | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Why Investors Are Scooping Up Alts Over BTC Currently<\/h2>\n
Patel knows Bitcoin and altcoin cycles<\/a>, and has made more than one fortune off of the repeating, cyclic patterns of cryptocurrencies. The author also in the past has explained alt season boom and bust cycles, where certain cryptocurrencies outperform BTC by a wide margin.<\/p>\n
Altcoins like Ethereum, Chainlink, and Uniswap have been beating Bitcoin at its own game<\/a> recently, and according to Patel, these might be coins worth paying closer attention to.<\/p>\n
These alternative digital currencies showing strength when sentiment is turning<\/a> on the leading cryptocurrency by market cap, says that buyers are buying the blood currently, but they are avoiding Bitcoin for now.<\/p>\n
As to why altcoins could be holding up better than Bitcoin, it all comes down to unrealized profits. After the epic Bitcoin rally, investors have plenty of profit left to realize, before its too late. This results in the selloff becoming more severe<\/a>.<\/p>\n
Related Reading | Proper Altcoin Season While Bitcoin Drops Has Traders \u201cCautious\u201d<\/a><\/strong><\/em><\/p>\n
The altcoins highlighted have all set a new all-time high, but still have much more to go before prices double like they have in Bitcoin<\/a>. On the flip side, there are some alts out there that aren’t anywhere near in profit, and given the lack of interest still, likely won’t be in the near future.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak. Normally, the bearish momentum in the top cryptocurrency is enough to drag down the rest of the market, but select altcoins are holding up surprisingly well. One altcoin expert who has traded his way through multiple bear and bull cycles, suggests watching for and buying any alts that are holding up especially well against BTC during the current drawdown. Here’s a closer look at a few cryptocurrencies that fit the bill. Bitcoin Bleeds, But Buyers Focus on Accumulating Select Altcoins Bitcoin and altcoins have an on-again, off-again relationship, which is no surprise for the two types of volatile digital assets. Bitcoin typically must be bullish or consolidating for altcoins to perform well. When sentiment turns on the market leader, alts take a much worse beating. Related Reading | Technicals Point To Extended Ethereum Dominance Over Bitcoin This time around, certain alts are holding up against the market’s abuse more so than others, and one expert says that those are the crypto asset to buy for the biggest profits in the months ahead. That expert is Nik Patel, author of An Altcoin Trader’s Handbook. Buy altcoins that have held up well against BTC, claims expert | Source: BTCUSD on TradingView.com Why Investors Are Scooping Up Alts Over BTC Currently Patel knows Bitcoin and altcoin cycles, and has made more than one fortune off of the repeating, cyclic patterns of cryptocurrencies. The author also in the past has explained alt season boom and bust cycles, where certain cryptocurrencies outperform BTC by a wide margin. Altcoins like Ethereum, Chainlink, and Uniswap have been beating Bitcoin at its own game recently, and according to Patel, these might be coins worth paying closer attention to. These alternative digital currencies showing strength when sentiment is turning on the leading cryptocurrency by market cap, says that buyers are buying the blood currently, but they are avoiding Bitcoin for now. As to why altcoins could be holding up better than Bitcoin, it all comes down to unrealized profits. After the epic Bitcoin rally, investors have plenty of profit left to realize, before its too late. This results in the selloff becoming more severe. Related Reading | Proper Altcoin Season While Bitcoin Drops Has Traders \u201cCautious\u201d The altcoins highlighted have all set a new all-time high, but still have much more to go before prices double like they have in Bitcoin. On the flip side, there are some alts out there that aren’t anywhere near in profit, and given the lack of interest still, likely won’t be in the near future. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":455026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,1144,78790,16295,6664,10598,14616,8323,1946,8686,16097,83566,11808,11993,14262,82849,80532,82853,4524,76835],"class_list":["post-455017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-chainlink","tag-crypto","tag-eos","tag-eosusd","tag-eth","tag-ethereum","tag-ethusd","tag-link","tag-links","tag-tron","tag-trx","tag-trxusd","tag-uni","tag-uniswap","tag-uniusd","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nAltcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown<\/title>\n<meta name=\"description\" content=\"Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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