Learn Live ICYMI: Dominate Altcoin Markets

While Bitcoin is generally a lower-risk investment than altcoins, is it smart to be fully invested in this asset? Altcoins are recognized for their volatility, which presents traders with both risk and the potential for incredible gains. How can you identify and seize opportunities with altcoins?

In the fourteenth episode of our Learn 101 livestream, we uncover how to dominate altcoin markets.

Our new series, Learn Live ICYMI, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Oct 18, 2024 were two distinguished guests: Michael Ionita, CTO and Founder of AutoTrading.vip, and Juan David Mendieta, CSO and Co-Founder of Keyrock. Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores how to dominate altcoin markets.

Key Takeaways:

• With the recent evolution of Solana (SOL) and Sui (SUI), diversifying your cryptocurrency portfolio could be a wise move.

• While Sui appears to be in the midst of a pullback, market signals indicate that Solana may be geared up for a bull run.

• Sui is increasingly being referred to as the next Solana, thanks to its architecture, high throughput and low-latency transactions.

Altcoins in Focus: Solana, Ethereum and Sui

This episode begins with Michael Ionita describing how Ethereum’s performance has been based on the narrative: when making their crypto selections, investors ask what makes the technology interesting and what’s in its road map. There’s nothing wrong with Ethereum per se, but neither is there any perceptible excitement in its future plans.

In comparison, Michael says that Sui is the new kid on the block. It has a startup mentality with better tech, so it’s exciting. He introduces a chart that indicates the downward trends of both Bitcoin and Ethereum, then presents charts for Sui and Solana, indicating that investors have been better off holding these altcoins.

Juan David supports Michael’s perspective, adding that people want to find the next big thing. He then describes how Solana stands apart from altcoins related to Ethereum. These other altcoins’ performances are tied somewhat to Ethereum’s performance. On the other hand, Solana has its own vibrant community that’s passionate about the smoothness and utility of the platform. Because Solana’s community heavily comprises vision traders or early adopters, other new altcoins have been trying to attract their attention. On the other hand, the whales invested in Ethereum aren’t interested in trying new things. They like Ethereum, because it’s time-tested and safe.

Juan David describes how the latest technology is based on a large investment from Facebook. Both Sui and Aptos have benefited from this technology, and their competition has pushed the technology forward. Traders can build long positions into these assets with downside protection, which differentiates such cryptos from SOL. He mentions that these altcoins have been aggressively searching for new investors, which sets them apart from other projects that also have great technology.

Juan David states that the one thing guaranteed in the industry is volatility. Direction isn’t guaranteed, and building a portfolio of altcoins and going long might not be wise. When you use volatility properly, it’s your friend in altcoin trading.

Michael shares his screen again to demonstrate a strategy: his method for selecting altcoins is to identify when Bitcoin is weak. Look for the altcoins that rally at those times, and add some of these altcoins to your portfolio — a simple method to use when you don’t have access to charts. However, he warns investors not to use altcoins that have been hot during the previous cycle.

Juan David states that investing in Bitcoin is a low- to medium-risk investment strategy, but it might not be the most profitable one. He adds that investing a portion of these assets in well-chosen altcoins is more efficient, because you can lock in short-term gains to increase your position in long-term investments.

Advanced Trading Strategies: Capturing Gains From Market Movements

Juan David uses virtual systems for advanced trading. Michael says that for smaller investments, you can spread funds across different assets. He believes in trend-following strategies, and he asks viewers to watch his YouTube videos to learn more.

Juan David clarifies his point by stating he didn’t mean to indicate that a professional manager is needed; instead, he emphasizes the importance of building a custom strategy.

Regarding the current opportunities, Juan David asserts that it’s difficult to determine if this is a good time to jump in on Sui. Michael shows his screen with a chart revealing the upward trend for Sui that’s currently in place. He believes that there’s no need to be bearish.

For Solana, Michael’s chart indicates that the trend is off the charts. His strategy is to open a position, and ride it when it breaks out, or to automate the trades. Investors need to get out when the trend is over. If the upside potential is high, you don’t have to invest so much money to make a lot of money.

Juan David describes the buy pressure for Solana. This asset is still being affected by the events surrounding FTX, because FTX insiders are involved. He says some of these investors are simply trying to sell enough to break even on their initial investment. This is a unique price pressure for Solana.

David says volatility is rooted in relative value. For altcoins, investors and traders can easily compare an altcoin to a better-known altcoin. Comparing the expectations between different altcoins drives volatility and stability.

Closing Thoughts

This session of the Learn 101 livestream effectively highlights how to Dominate Altcoin Markets.

As part of the livestream, Bybit is holding an exclusive event that offers you a chance to participate in our pop quiz and win a share of $300 worth of TON. The event period is through Oct 25, 2024, 8AM UTC.

Stay tuned for more discussions on the dynamic world of cryptocurrencies!

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