If you are somewhat new to the cryptosphere you might be wondering what is going on. The total marketcap of cryptos is not really climbing as fast as one would hope, however the price of BTC seems to be very bullish at the moment. I've seen this so many times I'm pretty sure it's exactly the same cycle happening all over again.

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Alt-coins being dumped

The psychology of the markets is fascinating to me. And in my opinion, the only thing that TA attempts to do is to explain just that. If it does so effectively is another question all together. However, it does not take a degree on economics to speculate what is happening with the alt coins and BTC dominance.



As of writing this post, BTC is at 47% of the cryptomarkets. That number, as unimpressive as it may sound it's the highest its been for a very long time. Prior to publishing this opinion of mine, I tried to see when was the last time BTC dominated the markets with these margins only to confirm my suspicion, December 2017. What does this mean? Well, it simply means that more and more people are choosing to dump their bags, at a loss mind you, and jumping on the BTC wagon in expectation of a higher valuation of the king of crypto.

I could sit here and argue how doing such thing is not very logical, but as we know markets and their traders are famous for being irrational. So, that conversation is kind of moot at the moment. I will however say, that if you take your time to analyze this with a cold heart, you will find yourself standing in front of the cusp of opportunity.

Expectations behind the ETF

A few days ago I wrote a short post about this subject. I'm not one to hold my breath, but it seems to me that this could the main catalyst for this year's bull run and I'm pretty excited about that possibility. However, the cat is not in the bag, and nothing will be concrete until much later in the month of August.

Now, this does not mean that speculators are not salivating at the moment, specially when Bitcoin is rallying up the way it has for the past few weeks. We had a giant green candle on a thirty minute window in one day, injecting billions of dollars into the market as if someone just poured soda into a cup for a good friend. It's a little overwhelming to see in real time these things happen. It's as if my idea of what a whale is constantly gets dwarfed when a real leviathan shows up to the crypto-ocean.

Preparing for the Big Bounce

And this is the part that has my mind racing at the moment. Because, it always happens. Now, before I continue to explain this point, let me show you an image that will put everything in perspective. If you visited coinmarketcap at the moment, you would think wrongfully that the day is nice and green. But, this is not accurate, and that is putting it lightly.

As you can clearly see, all the "big names" are bleeding out. Why? How is this possible? Simply because you are being "tricked" by the USD valuation of the token. I've told plenty of my friends who are either just getting started or who are not to keen intro trading, that thinking in dollars is not the best way to look at markets. You must adapt your brain to think in Satoshis.

Someone with the right approach to crypto markets sees a day like today as a day of great opportunity. All the cryptocurrencies that are in the red, specially the top 10 ones are very likely to bounce. Please note that the key word I'm using is "likely" - I could not say with utmost certainty that they will, but if the market has taught us something is that it seems to obey these cycles.

In other words, someone could be looking to jump into an altcoin at it's lowest point against BTC and when it bounces back, when it catches to bitcoin's throttle, increase his holdings on BTC as a result. Should you do it? Should you take that gamble? That is completely up to you. I would hesitate to give anyone strong recommendations as I'm not a financial advisor and I don't want to be responsible for anyone's choices.

What I Intend to do

I'm going to grab the little bit of BTC I still have and buy some more Steem with it. Steem is looking so cheap at the moment is almost painful or irresistible, depends who you ask, for me to ignore. So, I'm taking a loss on another coin I was holding and I'm going to put all of it into Steem.

Now, that is not the end of my plan of course. I intend to put all the Steem to work, because as I've been saying for the past few weeks. We are in accumulation zone at the moment and I for one won't miss the train this time, no Sir. But please, do take into account that me sharing my strategy, my choices is simply my desire to share and nothing more. I would suggest anyone thinking about making any moves at the moment to do a lot of solid research, get as many opinions as possible and be ready to deal with the consequence of those choices.

I've given myself a goal and I'm ahead of schedule. I want to reach 7000SP before the end of next month. It looks as If I'm going to be able to pull it off and I'm very motivated at the moment as you should. It's so easy right now to collect SP, it feels like someone let a fat kid loose inside a bakery.