As bitcoin hovers around the $34,000 range, a debate rages in crypto circles about the right time to buy altcoins. According to crypto analyst and influencer Crypto Rover, the optimal time is after bitcoin breaks its previous high.
With 573,000 Twitter followers, Crypto Rover has established himself as an authoritative voice in the crypto space. He advised his followers to exercise patience and refrain from buying altcoins – besides bitcoin – while bitcoin trades below its peak of around $69,000.
“The time to buy altcoins is once bitcoin breaks its ATH [all-time high]!” Crypto Rover tweeted this week. “Not now.”
The analyst explained that waiting for bitcoin to eclipse its former high comes down to risk management. “I might miss out on some profits, but I will definitely avoid the major drops in bitcoin value,” he wrote. “It’s all about risk/reward.”
Crypto Rover’s advice diverges from more aggressive strategies that involve buying altcoins before they surge. But the analyst contends patience will pay off in the form of less exposure to bitcoin’s volatility.
When bitcoin finally does exceed its former all-time high, Crypto Rover’s followers can likely expect him to give the green light on loading altcoins. Until then, the mantra is to wait – and brace for bitcoin’s next big move.
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