This Altcoin Indicator is Flashing a Bright “Buy” Signal
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| By Bruce Ng |
Well, it finally happened.
The long-awaited Bitcoin (BTC, “A”) halving took place late last week. My colleague Beth Canova broke down everything you need to know about the halving in the Sunday Weiss Crypto Daily.
And as she said there, while the halving is a bullish event for Bitcoin, it can take a while for prices to rocket up.
In fact, I’ve said as much last week, when I broke down the typical price action pattern leading up to and following past halvings. That is …
- A rally before the halving.
- A price dump as the halving gets closer.
- A recovery nearly back to pre-halving levels on the day of the halving itself.
- Sideways price action for a few months.
- And the final parabolic rally in the fall.
And so far, Bitcoin has followed this path pretty well. Especially considering it deviated early on by marking a new all-time high ahead of the halving for the first time ever back in March.
Just take a look …
You can easily see the big run-up that started in early March, well before the halving. Then, as we got into April, BTC corrected.
Now, turn your attention to the green arrow. That’s the day of the halving, April 19. And you see the green candle its pointing to almost perfectly matches the red one that came before it.
That’s the price of BTC reclaiming its pre-halving level the day of.
That means we’ve now seen three of the five price markers successfully hit in this cycle. So it’s no surprise that I expect to see Bitcoin continue its pattern and consolidate for the next stretch before it hits its parabolic rally.
But, as I explained previously, some cryptos can still perform well in the meantime.
And you want to be leveraged to your favorites before Bitcoin’s price takes off. That’s because altcoins — all crypto besides BTC — are sure to follow. And you don’t want to be playing catch-up.
Now that the halving is behind us, the markets seem to have settled a bit. But there’s a handy tool that applies hard data to determine the best time to buy altcoins. And I’ve told you about it before.
It is cryptokryo’s altcoin “buy” indicator, and it tells us the best time to buy altcoins — that is, all cryptos besides Bitcoin.
Now, let’s take a new look at the indicator:
Oct. 24, 2023 is the first “buy” signal we received this cycle, marked by the yellow 1. The yellow 2 marks a “sell” signal that was hit on Dec. 31, 2023.
But look at where the line is now … right back at that same “buy” level at the bottom of the chart. According to the indicator, it’s time to start getting ready for the next leg up.
Now, buying any old crypto in a bull market like this will likely yield you a return akin to the TOTAL3 — that is, the market cap of crypto minus BTC and Ethereum (ETH, “B+”) — because that represents the index of all altcoins.
So, if you were to use cryptokoryo’s altcoin buy indicator and just bought any old crypto today, you’d probably do as well as the TOTAL3 performance, which is 51%.
That’s not a bad return. But it’s nowhere near as far as the top performers will reach.
Select small-cap cryptos have the chance to soar 2x, 9x even 10x when the parabolic rally hits. That’s because they have the most room to grow.
In fact, one crypto my colleague, Juan Villaverde, and I recommended to our New Crypto Wonder members has already seen 6.4x growth since we bought in!
And we use a backdoor buying method to maximize our potential gains even more.
Juan broke down exactly how our strategy and buying method work in his latest briefing with Dr. Martin Weiss, aptly titled 205x Better Than Bitcoin.
As I said, the indicator shows that now is the time to get into your top picks. To learn how we are targeting and buying what we believe to be the best opportunities this market has to offer, I urge you to watch that briefing now.
It’ll be taken offline tomorrow.
Best,
Dr. Bruce Ng
