Altcoins
Miles Deutscher Urges Altcoin Caution, Says Market Will Reach New Highs Soon
- Bitcoin’s resurgence above $65,000 signals a potential upcoming altcoin season, as noted by Australian analyst Miles Deutscher.
- Deutscher attributes the market’s recent recovery to decreasing selling pressure and increasing buyer activity.
- He predicts that altcoins could surpass a $1 trillion market cap, underscoring the importance of strategic profit-taking.
With Bitcoin seemingly out of the woods for now and having surpassed US$65,000 (AUD96.5k) after its recent crash, Australian analyst Miles Deutscher He says altcoin season could soon arrive.
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But first, what caused the recent market rally? According to Deutscher, it was these events that ultimately led to the crash: Mt. Gox Fears and German Bitcoin Sales Now, as sellers run out of coins to put on the market, the supply pressure disappears, which leads to less resistance from buyers, ultimately causing the price to increase.
The analyst highlights a common misconception that there is not enough interest in cryptocurrencies based on social engagement, when in reality there are many buyers (see ETFs).
We need to stop thinking about who will buy and start thinking about who is actually left to sell.
Altcoins Could Surpass $1 Trillion Market Cap
According to the analyst, altcoins are showing signs of recovery similar to Bitcoin, having reclaimed their low range on the overall chart. Deutscher sees “a lot of opportunities in the market” due to the current low prices of many altcoins, suggesting that some could “perform really strongly if the market recovers a little bit.”
He believes that altcoins have a strong chance of surpassing the $1 trillion market cap this cycle, offering substantial returns. Deutscher also stresses the importance of taking profits when the market is rising to avoid losses and highlights Ethereum as a key altcoin to watch.
Most of the money is made by buying fear and holding, then simply reselling extreme greed.
But a peak shouldn’t be expected any time soon: According to Deutscher, the market peak could only be reached in late 2025.
Other Altcoins to Watch
So, which altcoin is coming soon? According to Deutscher, not much has changed, with the same narratives remaining strong bets: tokenization, AI, memecoins, decentralized finance, and layer-1.
In a previous one sendDeutscher reposted an account suggesting several interesting strategies for investing in altcoins. The obvious one is Ethereum and ETFs but also ETH related projects like Pepe, Pendle and LidoThen there is of course Solana and discussions surrounding an ETF for SOL – which leads one to expect that things like Jupiter and Jito will be fine.
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Also, don’t forget The Open Network. Projects surrounding TON as Hamster KombatNotcoins and PIXFI has received a lot of attention Also.
Furthermore, once Ethereum has its own ETFs, attention will undoubtedly turn to discussions for ETFs. blockchains known as Near Protocol, Avalanche and Cardano.