{"id":18290,"date":"2022-05-29T20:18:34","date_gmt":"2022-05-29T20:18:34","guid":{"rendered":"http:\/\/egrowonline.com\/?p=18290"},"modified":"2022-05-29T20:18:34","modified_gmt":"2022-05-29T20:18:34","slug":"will-bitcoin-and-altcoins-bottom-together-in-this-cycle-veteran-analyst-shares-his-views","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=18290","title":{"rendered":"Will Bitcoin and Altcoins Bottom Together in This Cycle? Veteran Analyst Shares His Views"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div><a target=\"_blank\" class=\"article__lead-img--wrapper\" href=\"https:\/\/u.today\/vladislav-sopov\" rel=\"noopener\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"140\" alt=\"article image\" src=\"https:\/\/u.today\/sites\/default\/files\/2021-07\/8893.jpg\" class=\"author__item-user-avata\" \/><br \/>\n<\/a><\/p>\n<div class=\"article__lead-info\"><a target=\"_blank\" class=\"article__lead-name\" href=\"https:\/\/u.today\/vladislav-sopov\" rel=\"noopener\">Vladislav Sopov<\/a><\/p>\n<p>Altcoin Psycho, legendary anonymous trader and advisor at Sino Capital, shares uber-bearish prediction for altcoins holders<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"article__contents\">\n<p>Contents<\/p>\n<ul class=\"article__contents-list\">\n<li class=\"article__contents-item\"><a target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h20\" rel=\"noopener\">Don&#8217;t bet on altcoins\u00a0once Bitcoin (BTC) bottoms<\/a><\/li>\n<li class=\"article__contents-item\"><a target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h31\" rel=\"noopener\">Altcoiners should be careful with shorts<\/a><\/li>\n<\/ul>\n<\/div>\n<p>A cryptocurrency analyst who goes by @AltcoinPsycho is certain that\u00a0we do not need to rely on the previous performance of Bitcoin (BTC) and altcoins in the descending phases of cycles.<\/p>\n<h2 id=\"h20\">Don&#8217;t bet on altcoins\u00a0once Bitcoin (BTC) bottoms<\/h2>\n<p>Mr. Altcoin Psycho is sure that this cryptocurrency cycle will be different from\u00a0all previous ones. Typically, after a potential Bitcoin (BTC) bottom, traders moved liqudity to altcoins.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">IMO this bottom will look different than past ones, causing more pain<\/p>\n<p>In past cycles, BTC bottomed and people shortly after bet big on alts<\/p>\n<p>When BTC bottoms this time, I expect many to rush in to alts &amp; get crushed from unlocks \/ supply shock<\/p>\n<p>Next cycle will be less forgiving.<\/p>\n<p>\u2014 Altcoin Psycho (@AltcoinPsycho) <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/AltcoinPsycho\/status\/1530685996207001600?ref_src=twsrc%5Etfw\">May 28, 2022<\/a><\/p><\/blockquote>\n<p>By the way, this cycle is a special one: after Bitcoin (BTC) bottoms, alts will have great\u00a0room for further plummeting. This should be attributed to an upcoming wave of token\u00a0unlocks.<\/p>\n<p>New unlocks will provoke additional selling pressure on altcoins: newcomers and their long positions will be decimated. As such, it is better\u00a0not to try catching falling knives in this cycle.<\/p>\n<div class=\"something middle_banner\">\n<div class=\"something__content something__content-square\" style=\"width:336px;height:280px\">\n<p><a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=183269;size=336x280;setID=558953\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=183269;size=336x280;setID=558953;type=img;click=CLICK_MACRO_PLACEHOLDER\" width=\"336\" height=\"280\" \/><\/a><\/p>\n<p>Ads<\/p>\n<\/div>\n<\/div>\n<p>The next cycle will be more brutal in these\u00a0terms, Mr. Altcoin Psycho concludes.<\/p>\n<h2 id=\"h31\">Altcoiners should be careful with shorts<\/h2>\n<p>Also, this cycle lacks consensus on what the bottom is: Bitcoin, Ethereum, altcoins and market capitalization will most\u00a0likely reach the bottom\u00a0in different times.<\/p>\n<p>Thus, the Bitcoin (BTC) bottom might only signal the start of the altcoin\u00a0drama. The analyst highlights that some of the mainstream altcoins realized less than 10% of their inflation curves. This means that new coins will be released to market participants.<\/p>\n<p>However, opening short positions on this market might be far\u00a0more dangerous than &#8220;being sidelined in cash,&#8221; the analyst adds.<\/p>\n<p>As covered by U.Today previously, the Bitcoin dominance ratio (BTC.D) revisits multi-month highs and is inching closer to the critical 50%\u00a0level.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/u.today\/will-bitcoin-and-altcoins-bottom-together-in-this-cycle-veteran-analyst-shares-his-views\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vladislav Sopov Altcoin Psycho, legendary anonymous trader and advisor at Sino Capital, shares uber-bearish prediction for altcoins holders Contents Don&#8217;t bet on altcoins\u00a0once Bitcoin (BTC) bottoms Altcoiners should be careful with shorts A cryptocurrency analyst who goes by @AltcoinPsycho is certain that\u00a0we do not need to rely on the previous performance of Bitcoin (BTC) and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[200,646,50,828,5575,2069,2651,1535],"class_list":["post-18290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoins","tag-analyst","tag-bitcoin","tag-bottom","tag-cycle","tag-shares","tag-veteran","tag-views"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/15225.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18290"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18290\/revisions"}],"predecessor-version":[{"id":18292,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18290\/revisions\/18292"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/18291"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18290"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}