Altcoins
Choices to Maximize Bull Market Profits
After the recent market correction, analysts say the next step will be the altcoin season, when capital will shift from BTC to small-cap tokens.
Hopes for an altcoin season are high, but analysts warn that not all altcoins will reach new highs. This is prompting a rebalancing of the portfolio to target tokens with a higher chance of maximizing gains.
Altcoins Fall Before Bull Market Arrives
Enlightened traders tend to reevaluate their trading strategies and keep up with changing market conditions. Combining project fundamentals, current market themes, and investor sentiment helps investors make informed decisions.
Crypto Banter, a popular crypto YouTuber with over 960,000 subscribers, predicts a bull market in about 62 days. With that, its founder, Ran Neuner, says that now is the ideal time to position your portfolio for the best outcome. The selection is based on market fundamentals and historical trends, indicators that analysts use to predict price action.
To know more: What is Altcoin Season? A Complete Guide
The merchant calls LTC for the drop in volume and its downward trend since 2021. Compared to the most recent Test of work (War possession), Litecoin is also much more expensive, making it an unlikely pick for bulls.
Crypto Bahter Strikes ALGO due to its declining adoption rate, declining transaction volume, and stagnant active address ratio. A decline in the active address metric means no new wallets are picking up the token amidst reduced interest.
The difficulty of using Cardano as a decentralized finance (DeFi) token makes it an unpopular choice for Crypto Banter. The ecosystem relies heavily on its native token, ADAwith user engagement and trading volumes remaining moderate at best. There are progressively low daily transactions, declining developer activity, and reduced social engagement, which explains why Ran Neuner would abandon it.
While it started out well, there are now better gaming options available, bypassing Axie Infinity. As the gaming industry has progressed, new industry players have displaced AXS, which now has low transaction volume and abysmal non-fungible token (NFT) sales.
The Sandbox may have been outdated as it is a rather old project with declining traction, according to Crypto Banter. Low social activity and low daily network growth make it a candidate for deletion.
Crypto Banter’s Best Altcoin Buys for 2024
On the other hand, the popular YouTube channel highlights altcoins that could give good returns if a bull market arrives. These are:
Alephium tops the list despite currently appearing undervalued compared to most other Proof-of-Work (PoW) tokens. The interest comes as Bitmain, the powerhouse behind a significant portion of Bitcoin’s hashrate, is reportedly considering Alephium ASICs.
On (ON):
Ran Neuner also supports SUI, citing a strong developer community and the fact that the market has overlooked it. This, he says, positions the Sui Network token for potential future growth.
Solana boasts a high transaction volume, is fast and cheap, and has recently become a hub for meme coins. It also recognizes a significant stable currency transactions on the Solana network. More importantly, optimism about Solana’s ETF (exchange-traded fund) potential positions it for further gains in a positive market climate.
Beam advertises itself as a leading Web3 infrastructure gamblewith an ecosystem of over 250 games. If gaming tokens participate in the bull market, BEAM would be an easy favorite, bolstered by a significant investment from Pantera.
Ran Neuner also calls PYR a worthy buy, citing its growing community and focus on gaming and the metaverse. It runs games on multiple platforms and has a partnership with AAA game Hidden Beyond, effectively positioning itself as a beneficiary if gaming tokens recover.
To know more: What are the best altcoins to invest in July 2024?
Farsighted investors are actively preparing for a market on the riseanticipating the rotation of capital towards altcoins. Anticipating the potential bull market is a safer option than succumbing to the fear of missing out (FOMO). However, traders and investors also need to conduct their own research.
Disclaimer
In compliance with the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyAND Disclaimers They have been updated.