There are many out there grave dancing on alts right now.
And that's expected.
Alts have been dominated by Bitcoin for years in a liquidity strapped environment.
But this is how the emotional curve of investing ruins people.
Let me explain...
You have Asset A at the highs, and asset B at the lows.
Owners of asset A are euphoric, and they victory lap their own asset and grave dance on Asset B to make themselves feel superior.
Owners of Asset B are sad and emotional, and seeing all of the FUD about their asset and the green candles of Asset A.... they capitulate ad chase, hungry to get a win.
Selling Asset B at a loss and buying Asset A at the highs.
Only to get dumped on as Asset A drops from the highs and Asset B pumps from the lows.
That is where alts are right now in comparison to other assets. They are Asset B.
This is chart TOTAL3ES/BTC btw.
Its TOTAL3 Excluding stables coins.
It shows the strength of alts, without stablecoins, against Bitcoin.
I will let you decide in which position you think it is in.
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There are many out there grave dancing on alts right now.
And that's expected.
Alts have been dominated by Bitcoin for years in a liquidity strapped environment.
But this is how the emotional curve of investing ruins people.
Let me explain...
You have Asset A at the highs, and asset B at the lows.
Owners of asset A are euphoric, and they victory lap their own asset and grave dance on Asset B to make themselves feel superior.
Owners of Asset B are sad and emotional, and seeing all of the FUD about their asset and the green candles of Asset A.... they capitulate ad chase, hungry to get a win.
Selling Asset B at a loss and buying Asset A at the highs.
Only to get dumped on as Asset A drops from the highs and Asset B pumps from the lows.
That is where alts are right now in comparison to other assets. They are Asset B.
This is chart TOTAL3ES/BTC btw.
Its TOTAL3 Excluding stables coins.
It shows the strength of alts, without stablecoins, against Bitcoin.
I will let you decide in which position you think it is in.