A popular Bitcoin trader who turned about $2,000 in Bitcoin into $100,000 in just three weeks is now shifting part of his portfolio into altcoins in anticipation of a bull run.
The pseudonymous trader SalsaTekila says he’s using October to gradually increase his altcoin portfolio and plans to have 15% of his BTC stash converted into alts by the month’s end.
“No FOMO needed: smart bidding is the aim for now. I said it in 2019: couple months past halving I accumulate alts big, trigger in motion.”
He also says he plans to make a cyclical investment in Dogecoin (DOGE), which was introduced as a joke cryptocurrency back in 2013. The trader shared a chart showing DOGE moving between 23 and 100 satoshis in value about five times since 2014.
“My alts strategy is very simple:
1) Accumulate anything floored looking for 18+ months.
2) Buy DOGE 15-22 sats, sell at 100+ sats months later.
Memories from 2017: Majors and mid caps pump first, low caps after, shady scams from doubtful exchanges last.”
Overall, the trader and analyst says he’s positioning for the possibility of a huge bull run.
“If we get a real crypto bull run, you don’t need much to make much. Especially with alts bubbles: the compound effect of them going parabolic against Bitcoin which is also parabolic makes the returns insane. I don’t know if we get one, can’t. I’m positioning for a possibility.”
He says if Bitcoin hits $12,000 it opens the door for the “$13,000 test,” but if it retraces and loses the $10,500 area it will invalidate his bullish bias.
“IMO $13,000 is the most important BTC macro level. 1) Rejected 2018, pulled back to 3k. 2) Rejected 2019 before flashcrash to 3k. 3) Tested once in 2020 since price recovery.
Push and hold through for a while (not just a fence) would make me believe in ATH. A man can dream.”
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Featured Image: Shutterstock/Tithi Luadthong
