BTC, XRP, and ETH Hit All-Time Highs: Expert Tips for Navigating the Crypto Market Surge

• Speaking on the Tapping Into Crypto podcast on Tuesday, hosts Ted Coldrake and Pav Hundal unpacked BTC and XRPs new all-time highs and examined ETHs resurgence off the back of huge ETF inflows and corporate accumulation.
• Hundal cautioned there could be a short-term market pullback, which were seeing play out today as many altcoins are down 5-10% on the day.
• Coldrake shared some tips for surviving a crypto bull market including having an exit plan, not chasing pumps and going easy on the altcoins.

Speaking on the Tapping Into Crypto podcast on Tuesday, hosts Ted Coldrake and Pav Hundal discussed the recent crypto market surge, which has seen both BTC and XRP post new all-time highs and ETH finally show some positive price action after a lengthy sideways run.

Bitcoin achieved a new all-time high on July 14, topping out at just under US$123,000 (AU$185,000), while XRP hit its new all-time high of US$3.65 (AU$5.51) on July 18.

It seems like the appetite for XRP as an investment, or a speculative investment, is super high right now, Coldrake said. He said the interest in XRP seems to be driven by Ripples focus on banking and its relatively simplicity compared to many other cryptocurrencies.

Its [XRP] been around a long time and its easier to understand, more so than some of the other projects.

On Ethereum, Coldrake and Hundal agreed that a surge in institutional interest, largely driven by recent record inflows into the Ethereum ETFs, is helping push ETHs price higher.

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Ive got a nice little stat here 59% of all the net flows for Ethereum [ETFs] has occurred in the last month and half. So, since the start of June, Hundal said. 

About two-thirds of that buying has actually just happened in July. Theres been a huge resurgence of interest in Ethereum, he said.

The rise of the so-called Ethereum corporate treasury strategy, in which corporations are adding ETH to their balance sheets, has also likely contributed to ETHs recent surge, according to Coldrake and Hundal.

Coldrake also noted that this flow of capital from Bitcoin into ETH mirrors dynamics observed in previous crypto cycles, saying its what weve seen in other cycles, where you know, Bitcoin runs first, then it flows into ETH, then it flows down into other altcoins. And that seems to be playing out.

Related: XRP Hits All-Time High as Open Interest Hits Records; Ripple Inks Ctrl Alt Deal

While the market has been trending upwards over the past week or two, Hundal cautioned that a significant short-term retracement could be on the cards, particularly for altcoins.

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I do think, having a look at how Bitcoins technical structure formed up on this week, bit of a failure failed to make a new solid high. Like, we put in that new all-time high last week, but really havent pushed any higher than that and actually sold off quite quickly in my opinion.

The way things are shaping up right now&things might be getting overheated, Hundal warned, adding that we could see altcoins still continue [their rally] till the end of the week but these are the kind of times where you just dont know could finish Wednesday, could finish Thursday.

This prediction was made Tuesday, and as it turns out the market is indeed experiencing a significant correction today, with many altcoins down 5% to 10% on the day.

Coldrake offered some tips for newbies on how to navigate crypto bull markets and hopefully come out with more profits than regret.

His first tip was to make sure to have an exit plan. The plan doesnt necessarily need to be detailed, according to Coldrake, but at the very least you should be looking to dollar cost average out of your positions just as you dollar cost average into them.

He also advised against chasing coins thatve already pumped. 

If you go chasing after pumps youll likely miss a lot of them. Sometimes you might catch it halfway up and ride it to the top. But I think if youre chasing you often get burnt more so than doing well.

Related: Retail Chases Alts as Institutions Choose Stability, Wintermute Report Reveals

Coldrake also cautioned against holding too many altcoins, explaining, when you have 20 to 30 altcoins you have no idea whats happening with them, and you can wind up not knowing when or if to take profits. Other tips included ensuring you hold at least some Bitcoin, and keeping a stash of cash on the sidelines to buy into the inevitable dips even as the market is trending up.