Savvy

FOMO

Bitcoin

Time

<p>According to crypto analyst <a href="https://twitter.com/rovercrc/status/1711692678419640787" target="_blank" rel="noopener noreferrer nofollow">Crypto Rover</a>, now is not an ideal time to buy altcoins, with Bitcoin dominance on the rise.</p>
<p>In a recent Twitter thread, Rover argued that with limited retail involvement and VC investment, most altcoins lack funding sources to fuel significant gains.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="503" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-1024x503.png" alt="" class="wp-image-353052" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-1024x503.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-300x147.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-768x377.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-1536x754.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-2048x1006.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-305x150.png 305w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-713x350.png 713w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246-788x387.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-246.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>He believes Bitcoin likely needs to surpass $60,000 to restart the retail FOMO cycle and spark renewed altcoin interest. Historically, Bitcoin dominance drops sharply once it breaks all-time highs.</p>
<p>Rover thinks this milestone could signal conditions prime for investing in altcoins again. But under current circumstances, chasing altcoin upside appears premature.</p>
<p>With Bitcoin dominance rising, most alternative cryptocurrencies have struggled to find buying pressure. BTC remains the least risky option for new capital entering the space.</p>
<p>As the market leader asserts itself, altcoins tend to underperform. Rover advises patience until market conditions flip to favor altcoin speculation again.</p>
<p>Many altcoin proponents await the next bull run’s “altseason” for major profits. But for now, Bitcoin price strength takes priority over risky altcoin bets.</p>
<p>Rover’s take exemplifies prudent caution around chasing altcoin gains before confirmation of a trend change. Savvy investors should watch BTC dominance for signs of its impending decline against altcoins.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eTor Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/top-analyst-says-now-is-not-the-time-to-buy-altcoins-updates-bitcoin-outlook/">Top Analyst Says Now is ‘Not the Time to Buy Altcoins’ – Updates Bitcoin Outlook</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Top Analyst Says Now is ‘Not the Time to Buy Altcoins’ – Updates Bitcoin Outlook

Table of Contents

CaptainAltcoin

Other articles published on Oct 10, 2023

NvirWorld's New CMO Jason Interview

Is It Too Late to Buy Tether Gold? XAUT Price Increases 1% as Crypto Casino Project Gathers Pace ...

VinFast is Down 90% From its Peak and Likely to Fall More

Shiba Inu to Launch a New Publication: Here’s What It’s All About

Israel’s Freezing of Hamas Crypto Accounts Highlights Centralized Risks

Let’s become a smart learner with the Edufex.

Join our free newsletter for daily crypto updates!