Many, including us, predicted alts would rally after the fork and Bitcoin would pull back. The fork didn’t happen, but the announcement that the fork was cancelled had this effect.

The only point to make here is this:

Next time Bitcoin does a bull run, due to news of a fork or whatever, and alts pull back, don’t panic. That is the time to buy alts cheap. They have a habit of dipping when Bitcoin makes a run and rebounding when Bitcoin pulls back. Taking advantage of this can result in a quick payday.

This isn’t a failsafe strategy, as no one can predict the future and past results don’t necessarily speak to the future, but it is something that has occurred more than a few times in recent history (and thus something to watch for).

A decent strategy in times like this is to take some profit on alts when the spike, but to otherwise hold for long term gains.

TIP: Don’t take what we write on the site as investing advice. It is only meant as insight to help you along on your journey (as, for example, if you are new to crypto and don’t watch the markets and crypto news you might be a little confused over what happened today and be looking for insight). Do your own research and make your own investment choices.

What do you think?