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Chris Kacher
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FAQs Frequently Asked Questions

Crypto Report
How do you build crypto positions during weak markets?
Q: If we do get the bearish scenario for crypto, would you begin rebuilding positions in some of the established altcoins at strong support levels and/or considerable weakness, down 70%+?  Or would you still be waiting for BTC and ETH bullish price and volume action before re-entering into altcoins?  

You had mentioned the following leading altcoins in various groups:

  • layer 1s (BTC, ETH, SOL, ATOM), gaming/NFTs (SAND, MANA, ENJ, AXS),  DEXs (UNI, SUSHI),  Web3 (DOT, THETA, HNT), and DeFi (LUNA, LINK, AVAX)
Curious if your crypto bear strategy may change at all this cycle due to more institutional interest and established altcoin projects.  Thanks again for all of the knowledge and information you provide.

A: I prefer to use BTC and ETH as the two main guides. At the same time, I do look for high quality coins bucking weakness in BTC and/or ETH. There are also times when BTC and ETH may lag or trade sideways while a couple leading altcoins are moving higher. For example, during the mini-top in June-2017, NEO which was called Antshares back then, was bucking the trend due to it being the first Chinese blockchain. China was formidable then since they had yet to ban ICOs and miners and other aspects of blockchain. NEO soared several hundred percent in the coming weeks despite both BTC and ETH still healing their wounds from the mini-climax top in June.

As for institutional buying, there is far more utility among the top alt coins than ever before spread across DeFi, DEXs, DApps, DAOs, NFTs, gaming, and an evolving metaverse. The crypto cycles are getting longer and less volatile as a consequence. Indeed, bitcoin's volatility should continue to diminish in the coming years to where it can become a more reliable store-of-value. But my overall strategy has not changed materially in how I scout for outperforming altcoins when the window of opportunity is open. One useful daily task is to go to arrange the top 200 performers over the last 24 hours on coingecko.com. Then delve into the names that look interesting based on fundamentals and technicals.
First published: 9 Feb 2022
Last updated: 9 Feb 2022