Cautionary Considerations for Altcoin Investments Ahead of the Bitcoin Halving Event:
Fundamentals:
As the #Bitcoin #halving approaches in a few weeks, historical trends indicate a notable impact on altcoin prices.
Technicals:
Examining the market structure, excluding Ethereum, reveals that the total altcoin market cap has reached a new peak. Anticipate a retest of the recently surpassed resistance, now serving as support, before resuming its upward trajectory within the bullish trend.
It's crucial to highlight that, typically during the Bitcoin halving event, a substantial price drop affects all altcoins, leading them to the strongest support zone. The overall market cap may dip from $802 Billion to approximately $790 Billion. This analysis aims to assist you in making informed decisions about profit-taking and whether to maintain your position.
Note: This information is provided for educational purposes only.
