Altcoins and Bitcoin Price Surge: Preparing Your Exit Strategy

Altcoins and Bitcoin Price Surge: Preparing Your Exit Strategy

As Bitcoin (BTC) is back surging above the $100,000 mark and altcoins consolidate above strong support levels, a crypto trader has warned his followers that the market’s top is close and urges people to prepare their exit strategy.

Bitcoin's New All-Time High and Market Observations

Bitcoin made a new all-time high this Monday, attracting more retail investors with the fear of missing out (FOMO). However, as retail starts increasing its BTC exposure, savvy traders and investors prepare their exit strategy as the top approaches.

In particular, the 356,000-follower trading and investing X persona, cevo, sent a warning to his followers on December 16.

• “We are close to the top,” he said in a controversial post.
• “The most gains with alts will be realized in this last phase. Prepare your exit strategy,” cevo concluded.

Market Analysis and Strategies Ahead

As of this writing, Bitcoin is trading at $106,800, a record high for the leading cryptocurrency, amid bullish speculations. With this recent price action, BTC is up 146% year-to-date and 17.81% in the last 30 days. Altcoins may offer a better growth potential from this point, as cevo highlighted in his warning. According to him, altcoins will print the most significant gains in the last phase of the bull cycle.

Conclusion: Prioritize Your Exit Strategy

All things considered, crypto traders should indeed have a well-structured exit strategy, starting to realize profits at relevant gains, while speculating in this unpredictable market.