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The "Alt-Season" narrative is likely a trap. You need to seriously consider what your goal is if you're not selling any ALTS through the recent rally.

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by COINS NEWS 11 Views

Bitcoin has been absolutely pumping over the last week and refusing to give back any gains as traders (and insiders) speculate on Crypto Week, and the "BIG THINGS" that are coming out of the US. With the money flooding into crypto ALTS have pumped with many making short term gains in the last week that far exceed what Bitcoin has been able to pull.

Now with Bitcoin eyeing a $120K weekly close you have to ask yourself what's going to happen during crypto week (starting tomorrow) and if anything "BIG" is actually going to happen.

The way I see it is one of three things are going to happen:

  1. Something Big happens for Bitcoin (not alts) like the US announcing they are selling Bitcoin Bonds - and Bitcoin pumps and alts likely continue pumping alongside.
  2. Nothing big happens resulting in a sell off, Bitcoin gives back most of the recent gains and alts gets destroyed in the proceeding dump.
  3. Something big happens that insiders postured for and it's still a sell the news event. Alts and Bitcoin both see dumps with Alts getting destroyed due to the lack of positive news.

I think it should be pretty clear to everyone that whatever happens this coming week during crypto week nothing announced will be particularly bullish for Alts. So if you are holding recently purchased alts that are in profit. You really need to ask yourself what exactly is your goal? In 2 out of 3 likely scenarios alts price action get murdered over the next seven days, and Bitcoin will need absolutely huge news to continue the recent buy the rumor, pump - that would keep the consecutive alt pumping happening.

The "Alt-Season" narrative is likely a trap and you really need to ask yourself, what is your goal?

submitted by /u/GabeSter
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