Altcoins

Altcoin Strategy in the Face of the Cryptocurrency Market Crash: Analysts’ Opinions

Published

7 months ago

7 July, 2024

Altcoin Strategy in the Face of the Cryptocurrency Market Crash: Analysts’ Opinions

Popular YouTuber and crypto analyst Michael recently posted a video in which he explain The current cryptocurrency market crash and its impact on Bitcoin as well as Altcoins. Michael’s observations aim to help investors navigate these difficult times by emphasizing the need for smart decision making and understanding the markets.

The current market has been dubbed one of the worst in the history of altcoins such as Arbitrum and Optimism. Similarly, Bitcoin has also fallen to its lowest level since October last year and is trading at around $54,000.

Altcoin Performance Defies Macroeconomic Trends

It is worth noting that this decline is not influenced by macroeconomic variables, as the US dollar is depreciating and the price of gold is rising due to uncertainty in the global market. Historically, a weak dollar should be good for Bitcoin, but the opposite is happening.

Michael also notes that US Treasury yields, which are a key indicator of asset risk and risk-free performance, have also declined. This should be more favorable for Bitcoin, but the currency is deviating from this pattern. He attributes this difference to other market drivers specific to the cryptocurrency market rather than general economic factors.

As Michael stated, the main cause of Bitcoin’s decline is Germany’s decision Germany had to liquidate some of its Bitcoin holdings. As a result, the market was severely panicked and put under pressure to sell by reducing Germany’s Bitcoin reserve from 3.2 to 2.3 billion. In addition, the long-awaited repayments from the ECB were also canceled. Mount Gox started and huge amounts of Bitcoins were sent to exchanges, which further worsened the market situation.

Analysts’ optimism about altcoins

However, Michael does not lose hope for the best in the current situation, as the general mood is rather negative. He adds that we may be in a similar situation to the one we were in after the The FTX fiascosuggesting that the market has bottomed out. According to him, such events occur at the beginning of a market recovery and should be viewed as a buying opportunity by the investor.

This is Michael’s own investment approach and he revealed that he is now more interested in altcoins than bitcoins. He knows full well that the situation is unpredictable and dangerous, but he does not let it deter him. He tries to evaluate altcoins against bitcoin rather than the US dollar in his transactions, and the end goal is to hold more bitcoins, which he believes are the best form of money in the current environment.

For example, even though his USD portfolio value was negatively impacted, his Ethereum, which is an altcoin, has proven to be quite stable compared to Bitcoin. This strategy shows his long-term view of the Bitcoin Value and, therefore, its desire to buy more at current prices.

The analyst also emphasizes the need to choose the right altcoins. However, new cryptocurrencies may have higher yields and therefore be more profitable, but they are also risky. Michael also advised investors not to panic and stick to their plans and forget about the short-term performance of the stock markets. He also focuses on the issues of conviction and allocation when it comes to trading in a highly volatile environment like the cryptocurrency market.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.