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Small Rotation to Alts

Adrian@gadrian (76)652d

Last week I took some profit from one of my accounts holding bitcoin. I knew it was likely to go higher before pulling back significantly, and it did, but that's the point of taking profit, isn't it? To secure it while you have it. Which means my plan is to sell it on the way up rather than try to guess what the top will be (or how many tops we will have).

At the same time, I didn't stay completely on cash with my profits, and I decided to buy with 1/3 of the amount two alts (15% ETH and 15% SUI). Of them, I am pretty well into profit on SUI already, but ETH is down from my purchase price. I'll keep the rest of the profit as cash until I find better entry conditions. It is still early to stay on cash from profit taking to the end of the bull market. But if better entry opportunities won't be there (unlikely), I'm ok staying on cash, so I won't reinvest it at any cost.

[Source](https://www.pexels.com/photo/low-angle-photography-of-spiral-stair-1114883/)

There's not much to say about my ETH choice. I believe it's undervalued compared to BTC and that at some point it will explode, as it did in the last cycle, more or less.

Regarding SUI... I can't say I'm fond of it. I think of it as my "meme coin". even though it's a L1 blockchain and coin compared most often with Solana, where most meme coins reside...

I'll dump it as soon as I don't like something about its chart. Unlike ETH, which I am comfortable holding in the red, I wouldn't do the same with SUI.

It's probably late to buy SUI for a huge profit, but it outperformed my BTC holdings on the short term I've been holding it. It has a pretty bad tokenomics, but it is the continuation of the Diem project, formally developed by Meta, and from what I heard the majority of the team behind Diem work on Sui. It is also promoted quite aggressively by powerful people connected to Wall Street. Sure, many may be looking for exit liquidity as VCs.

I don't intend to hold any SUI (it isn't much anyway) well before this bull market is over. I may leave profits on the table, but I don't want to be their exit liquidity. In the meantime, I enjoy memecoin-like price jumps, more or less, without holding a meme coin.

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Comments · 7

  • @hive-lu(65)· 645d

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  • @josediccus(83)· 651d

    Eth did that push from 2.6k to 3k over 10 day ago. So I'm thinking from here we might not see a significant dip again. I predict eth to be a strong altcoin performer in this run, although I don't have much of it, but I might still buy a little in a few weeks time

  • @vimukthi(76)· 652d

    As more transactions happen Ethereum or any of the Layer 2 projects, it is going to create more ETH burns leading to deflation. All the statistics can be found at https://ultrasound.money

  • @jfang003(78)· 652d

    I saw someone talk about SUI but I didn't buy any of them because I don't trust MEME coins much. Those coins will get pumped and dumped like crazy as people make money. So it's hard to really know what decision is right, but at least it's a small position for you.

  • @aloysiusmbaba(67)· 652d

    This is indeed a good time to invest in alts, and then hold till next year. Then you take profit as the bull run progresses. There will be regret if one sells too early but also regret if they hold for too long. So a balance is needed. Thanks for writing. Have a good weekend.

  • @mypathtofire(76)· 652d

    SUI is on a stellar run at the moment, even with the bad tokenomics like you said. I am hoping for a $6 target soon enough. Eth seems to be having a funeral on crypto twitter, so maybe the bottom is in!

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  • @relf87(76)· 652d

    You are the second person to mention SUI within the Hive community. Someone mentioned it last month, and I put in a token sum in when it was low 2s. Guess it's a case of right place, right time, oh well, the magic of cryptos!