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coinpedia 2024-12-11 08:31:41

Altcoin Market Drops 30%: Here’s What Traders Should Do Now

The post Altcoin Market Drops 30%: Here’s What Traders Should Do Now appeared first on Coinpedia Fintech News The altcoin market has seen a massive drop, with some coins losing up to 50% in a single day. While this may seem alarming, experts like Michaël van de Poppe explain that such corrections are typical in crypto’s volatile cycles and shouldn’t cause panic. In a recent X post, Michaël van de Poppe discussed the ongoing 30% drop in the altcoin market, highlighting the panic it has caused among investors. He noted that some altcoins, like Bittensor, experienced a dramatic 50% drop in just 24 hours, triggering a shift in market sentiment. However, van de Poppe emphasized that such corrections are common in the crypto space, where sentiment swings are often exaggerated. What’s dropping the bullish momentum? Looking at the current downturn, he explained that this correction might seem alarming, but investors must stick to their plans and maintain a balanced portfolio. Rebalancing and focusing on base assets can help investors profit and capitalize on future opportunities when the market rebounds. Van de Poppe also pointed out that the correction is partly due to a liquidity crunch, with overleveraged markets experiencing a major crash, the biggest in three years. This was likely caused by excessive confidence and increasing leverage in the market. Hold, Buy or Sell? Analysts Weigh In Raoul Pal sees Bitcoin heading for a major bull run but cautions against blindly expecting a repeat of past patterns. Pal suggests that many investors might sell too early, driven by fears from previous cycles, only to miss out if the market peaks later, likely around late October 2025 if liquidity remains favorable. It will also be a good opportunity for altcoins. However, Van de Poppe encouraged investors to hold their positions if they believed in the long-term potential of their altcoins. He emphasized that while corrections are tough, they shouldn’t derail one’s investment approach. With the uptrend still in its early stages for most markets, he recommended staying patient and avoiding rash decisions that could lead to significant losses. At present the altcoins are in good shape as Bitcoin’s dominance declines and their market cap hits new highs, currently at $1.89 trillion. Indicators like the Altcoin Season Index, which tracks when most altcoins outperform Bitcoin, suggest the next major altcoin season could peak in 2025. Factors like fresh market narratives, advancing technologies, and favorable liquidity conditions make the coming year promising for altcoin growth.

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