"Sell Your House" Phase for Altcoins

Stay bullish with a strong mindset

We are currently in a "sell your house" market phase for altcoins. The only problem is that you need a strategy to find the ones that will outperform Bitcoin. Market sentiment is at an all-time low, which makes it hard for the mind to press the buy button. As we approach the FOMC meeting, Bitcoin is testing the mid-channel support at $67,000. BTC remains in a bullish mode with a rising 200-day moving average. Yes, BTC probably needs more time to trade within the $60,000 to $70,000 range. But market corrections and consolidations are part of this cycle before being able to trend higher. Therefore, I am not concerned in the long term.

So far, this cycle has proven that the global adoption by companies and countries has paved the way for onboarding new users into the crypto space. Remember, this is a marathon, not a sprint. My long-term outlook remains bullish, while expecting short-term chaos.

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Written by Timothy Assi, a popular investor on eToro. Follow & copy my portfolio:

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