π₯ Is this alt season? π
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
Author Takes
Altcoin resilience
Alts won't collapse like they used to because of new alt ETFs and long-term holders.
Bitcoin dip
Expects BTC to dip to ~$74K, causing alts to puke, which would be a buying opportunity.
Altcoin season timing
It's still too early to go hunting in alts.
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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