The total market cap has dropped from $4.2 trillion to $2.1 trillion, a full 50% decrease in just 8 months.
During this time, $BTC has nosedived from $122k to around $60.00.
Looking at it, the overall market cap decline directly reflects Bitcoin's market value.
Where altcoins used to roam around billion-dollar market caps, now even the total of projects sitting in the $20 - $50 range doesn’t equate to one project during a bull run.
Indeed, there’s been a significant outflow of capital from altcoins. Right now, BTC and ETH are driving the total market cap's fluctuations with their dips and rises.
Most altcoins are currently testing old lows, while many have already broken past their previous ATHs.
As I mentioned before, bear markets have averaged around 350 days, and if the same cycle is to repeat for the 4th time, we should expect a market turnaround in about 3 to 4 months.
If the market begins to reverse within 3 to 4 months, there’s no need to look for deeper lows anymore.
$ETH has nearly hit $1500. $SOL is around $65, and when you look at their upward scenarios, they’re about to reach levels that will make their previous dips seem less profitable.
Is it more sensible to wait to buy SOL at $40 or to start accumulating here and sell above $200 again?
Solana is just an example, of course. What I mean is, previously even when the market was down, these assets were high, and during their upward movements, they didn’t attract people. But once scenarios for slow accumulation become attractive, people will start entering the market, and we’ll see some coins rise again like before.
So, even if you’re hitting break-even after 20x, etc., that’s not important. Those are washed out. What matters is whether an appealing environment is being created for new capital to flow in.
No one is going to move the market based on your cost basis. Everything will be evaluated based on new profit ratios in a fresh cycle. Except for BTC.
During this time, $BTC has nosedived from $122k to around $60.00.
Looking at it, the overall market cap decline directly reflects Bitcoin's market value.
Where altcoins used to roam around billion-dollar market caps, now even the total of projects sitting in the $20 - $50 range doesn’t equate to one project during a bull run.
Indeed, there’s been a significant outflow of capital from altcoins. Right now, BTC and ETH are driving the total market cap's fluctuations with their dips and rises.
Most altcoins are currently testing old lows, while many have already broken past their previous ATHs.
As I mentioned before, bear markets have averaged around 350 days, and if the same cycle is to repeat for the 4th time, we should expect a market turnaround in about 3 to 4 months.
If the market begins to reverse within 3 to 4 months, there’s no need to look for deeper lows anymore.
$ETH has nearly hit $1500. $SOL is around $65, and when you look at their upward scenarios, they’re about to reach levels that will make their previous dips seem less profitable.
Is it more sensible to wait to buy SOL at $40 or to start accumulating here and sell above $200 again?
Solana is just an example, of course. What I mean is, previously even when the market was down, these assets were high, and during their upward movements, they didn’t attract people. But once scenarios for slow accumulation become attractive, people will start entering the market, and we’ll see some coins rise again like before.
So, even if you’re hitting break-even after 20x, etc., that’s not important. Those are washed out. What matters is whether an appealing environment is being created for new capital to flow in.
No one is going to move the market based on your cost basis. Everything will be evaluated based on new profit ratios in a fresh cycle. Except for BTC.