With Bitcoin increasing in value by $30,000 in a very short span of time, the same didn't happen for the other cryptocurrencies.
The Altcoin Market was relatively neutral or declining not only against bitcoin which was having a parabolic move but also against USD the performance of altcoins was not very great.
Every crypto investor started getting the question of "Will there be a altcoin cycle or is it going to be only bitcoin that will rise?"
With the fall of XRP, the third most valuable cryptocurrency this question got stronger in everyone's mind.
If you have been in this space for sometime you would probably know that it only takes time to start the altcoin cycle but when it starts it will go crazy.
So everyone were waiting for this spark and very recently we have started to get the sense of an altcoin cycle.
With the major altcoins like Chainlink, Polkadot, Aave, starting to make significant moves it is only a matter of time before the mid caps start to go crazy on price action.
Another important thing to note here is that, The main reason why the altcoins were not starting to make an upward move previously was because everyone were focusing on the moves that were made by bitcoin.
Not that bitcoin has hit a major resistance level of $40000 (2X of previous ATH), It is more likely that bitcoin is expected to have a side ways consolidation or a small pullback and that will help the next altcoin cycle .
BUT WHY?
This sideways move from bitcoin will help the altcoins because in the past few months a huge amount of new liquidity has been flowing into the crypto markets through bitcoin , now that there is no major moves from bitcoin this new capital will start to flow into altcoins from bitcoin in search of returns.
This has always been the case for the start of every major altcoin cycle .
So what can you do to be prepared for this altcoin cycle?
One thing you need to be very careful is not to buy in late.
There is still time to research about the potential altcoins and make some good early investments (Not Financial Advice).
People always enter the altcoin cycles without having any positions in altcoins, Buy some altcoins based on someone else recommendations or recommendations from crypto twitter which usually happens on the later part of the cycle and end up losing money.
So One thing you can do different this time is identify your potential altcoins before the crazy rally starts and be ready.
This is not Financial Advice DYOR.
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