Altcoins – Are You Trading or Are You Punting?
The common way to profit in altcoin trading has been to buy early, hope for the rip, and sell before it crashes. In this week's Navigating Narratives, David Zimmerman argues that you should have more than the buy-and-hope strategy in your toolbox.
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There are many ways to approach the crypto markets. Some view markets through auction market theory, some draw astrology squiggles on charts, and others such as yours truly choose to navigate the markets through narratives. One particularly interesting hallmark of crypto markets is the long-only positioning of a majority of participants. To be clear, a long-only approach is absolutely fine so long as you do so when the market is trending upwards and stop when the market trend reverses. When market conditions are truly easy, you are rewarded handsomely for buying the dip and there isn’t much to it. Markets were at their very easiest when 2 particular conditions were met:
