πŸ₯› Is this alt season? πŸ“†

Β·Β·4 min read
Crypto/Web3Finance
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AI Summary

Milk Road's analysts debate whether the recent altcoin strength is a confirmed alt season. 96% of top 50 coins beat BTC in September, but indicators are mixed. Analysts share strategies for buying beaten-down alts and waiting for dips, with recent trades like John's NEAR purchase already profitable.

Key Facts

βœ“Michael Nadeau reports 96% of top 50 coins beat Bitcoin in September, but he doesn't confirm alt season yet.
βœ“John trimmed SYRUP to buy NEAR at ~$4.80, now up ~19–21%.
βœ“Kyle suggests waiting for a BTC dip to ~$74K and buying UNI under $6.

Author Takes

Bullish

Altcoin resilience

Alts won't collapse like they used to because of new alt ETFs and long-term holders.

Bearish

Bitcoin dip

Expects BTC to dip to ~$74K, causing alts to puke, which would be a buying opportunity.

Skeptical

Altcoin season timing

It's still too early to go hunting in alts.

Bullish

Buying strategy

Getting excited when prices go down is the proper strategy.

Contrarian Angle

Buying Beaten-Down Alts

Michael Nadeau's strategy of buying alts that are down ~95% from highs, like Ethena, rather than chasing momentum.

Goes against conventional momentum buying and gets excited when prices drop.

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