Bitcoin Dominance - the Path to AltSeason!
Updated: Oct 12, 2021
When it comes to Crypto, everything moves in cyclical fashions. History often does repeat itself in a somewhat predictable/quantifiable manner. A crude example would be: #Bitcoin starts to pump. People take notice, they FOMO (fear of missing out) into buying it. Whales (institutions/people who own a lot of Bitcoin) slowly start moving their gains into "Alt Coins." These alternative coins like an Ethereum and Hedera Hashgraph begin to pump, people take notice and they FOMO into it. Do you see a pattern? "We the People" are called the "dumb money." Either anticipating or chasing after the fact. Many folks within social media create charts explaining this phenomenon in 4 Phases or Steps similar to the cart below.
Phase 5: What No One Discusses - StableCoins
Learn the importance of and how to use Stable Coins. These coins are pegged to FIAT currencies and everyday are worth $1 or $1 euro or $1 pound. (#USDT, #PAX, #USDC are examples.) Their value remains stable.
The benefits are many, but primarily twofold. You can get tremendous interest everywhere on user-friendly exchanges to DeFi wallets. Anywhere from 8% to 40% depending on where your stablecoins are and the duration of time you’re keeping them there.
Secondly, it allows you to convert your wealth, transition it into a stable asset, only to convert it back into Bitcoin, Ethereum and Altcoins at a better price. The market always and inevitably corrects itself; when you see signs of that happening, why watch #Chainlink go from $75 back down to $45? Turn it into stablecoins at $75 then back into #LINK at $45. This allows you to increase your overall quantities of what you'd like to hold long term.
Very few discuss #stablecoins or give them any thought. Stablecoins have an important role within the Quantum Financial System and can help you keep your money safe when the market is turbulent, as well as allow you to increase your long term positions while cost averaging out as prices climb, and cost averaging back in as prices fall. Lastly, they can help you keep your new form of wealth generating a passive income you can spend.
#HardForkNews continually illustrates: most cryptocurrencies are NOT/should not be used as currency. There is a place for the best cryptos as well as exchanges, DeFi, wallets, etc. Everything is a tool or resource and it is your job to couple them to a new advantage.
Bitcoin Dominance is very real; when it starts hitting new all time highs, get ready to see the very same thing mirrored within Altcoins shortly thereafter.