I have to say I was surprised to see the top 10 altcoins follow BTC so quickly. Yesterday, Bitcoin was the only one in the green while pretty much all the altcoins were bleeding. It took just a a day for the rest to catch up. Litecoin was the first to go up with BTC.
Some writers were citing Bitcoin dominance bottoming and indicating that alts would soon be left in satoshi dust vis-a-vis Bitcoin. To me personally, that idea seems a bit 2015ish. The top altcoins are much more established these days. Chains like Ethereum have very strong brand recognition.
If you look at cryptos right behind the top 10 you get mixed results.
Not much is happening down here where Hive lives. A couple of coins may see double digit upside in a week. More have been going down than up as much.
This is a pattern I've seen repeat itself time and again. It takes some time for money to trickle down to the lower layers of the market cap list. In 2017/2018 it was crazy. I predict the same psychology will play out 2021/2022. There will be profits taken at the top. Some of that money will be reinvested to the next tier where market caps and potential upsides are much greater and so on and so forth. Beginners will be particularly subject to unit bias and see Bitcoin and some of the other big ones as "too expensive" and go for the "cheaper" coins.
I think the smart thing to do is to just keep accumulating. The most likely correct order would be investing in the largest cap coins first and then cascade into the smaller ones while putting aside profits to pocket and to pay capital gains taxes from.
