Well-known trader Killa: Altcoins may have already bottomed out early, and now is a good time to position.

BlockBeats News, September 8 - Renowned trader Killa stated in his latest post that despite disliking the vast majority of altcoins and believing that 99.9% of projects may ultimately go to zero, as long as profit opportunities exist in the market, selective participation is worthwhile. He believes that one of the better phases historically for positioning in altcoins is often when Bitcoin begins to form a bottom and slowly rise.

Killa pointed out that during the previous cycle, while Bitcoin rose from $16,000 to $74,000, a large number of altcoins recorded gains of 300% to 500%; it was only after Bitcoin began to clearly outperform the market and its dominance rate further increased that many altcoins started to experience significant declines.

He believes that if his judgment is correct and Bitcoin has already formed a cyclical bottom, then many altcoins may have also completed their bottoming process at low levels, which means that ahead of the true bull market expansion, early positioning in select quality assets could offer substantial upside potential.

Killa revealed that he previously bought SOL at $76, and that position is currently up approximately 50% from the entry price; his previously disclosed HYPE spot and long position had an entry price of $51.55, with subsequent gains of around 70%. He also recently shared a swing long position on ASTER, expecting that position to have at least 50% to 100% upside potential.

"Altcoins may have already bottomed out ahead of schedule—the real move hasn't even started yet, and now is the time for selective positioning." He stated that we may see different altcoins rally in rotation going forward, and he will continue to hold his previously disclosed positions in SOL, ASTER, and HYPE while searching for more assets worth positioning in.