Altcoins
Cryptocurrency Trading: 3 Ways to Find the Next 10x Altcoins in the 2024 Bear Market
MEME (BOME) Book Price Action | TradingView
The chart above shows how BOME price increased by 2,542% from $0.0008 on the launch date on March 14 to $0.019 on April 2. BOME price was $0.008 at the time of writing on July 10, leaving early investors with gains of over 1,000%, despite the cryptocurrency market correction phase that has occurred over the past 3 months.
This is a clear example of how effective the “get-in early” strategy can be in the cryptocurrency markets.
In the past, large investors with sophisticated tools and access to crucial market information have consistently adopted this strategy and have often been criticized for dumping on retail traders when the market was ripe.
However, licensed platforms like BasedVC now allow trading communities to co-invest early alongside large institutional firms like a16z, Coinbase Ventures, Animoca Brands, and more.
Since 2023, the team has invested more than $65 million in projects such as Heroes of Mavia, Shrapnel, Gunzilla Games, Portal, Tatsumeeko, Chrono Forge, and more, which have produced varying levels of returns.
With multiple service offerings such as venture capital and launch pad, the BasedVC ecosystem has already attracted over 20,000 daily active users, a number that could further increase as strategic traders begin to adopt the “get-in-early” strategy to ride out the current bear market.
3. Follow-the-Money: Tracking the Buying Trends of Cryptocurrency Whales
Whale tracking is another age-old strategy that has yielded profitable results for strategic cryptocurrency traders over the years. This method involves using on-chain sources to track specific assets that are attracting significant whale demand during a bear market phase.
In the cryptocurrency industry, whales are considered large institutional investors, equipped with highly sophisticated market intelligence and able to influence the performance of an asset over time thanks to their financial power.
Some on-chain indicators that can be used to track whale buying trends include: large transaction counts, whale wallet balances, whale transaction alerts.
For example, the IntoTheBlock chart below presents the recent price movements of Toncoin against the daily count of large transactions (single transactions exceeding $100,000) involving TON.