Altcoins

Crypto Analyst Lists 6 Must-Have Altcoins with the Most Potential

Published

9 months ago

9 May, 2024

Crypto Analyst Lists 6 Must-Have Altcoins with the Most Potential

As the crypto market shows signs of a new booming season, crypto analyst Alex Wacy shared a strategy forecast with his 175,000 followers on X. Wacy predicts a selective but explosive growth phase for altcoins, highlighting the critical nature of asset selection and market timing.

Crypto Market Outlook and Asset Selection Strategy

Wacy’s recent thread highlights the anticipation of a massive altseason: “Only about 15% of altcoins will bring 10 to 100 times this hyper growth.” Asset selection is more important than ever. One mistake and you’re out. His analysis highlights the potentially selective nature of the upcoming phase of the market, suggesting significant performance disparities between altcoins.

Wacy believes the market is currently undervalued and poised for significant upside. He suggests that the consolidation of the altcoin’s total market capitalization above $700 billion would confirm the uptrend, signaling the start of a new season. This outlook is rooted in current market behaviors, where sentiment remains largely bearish, presenting an opportunity for contrarian growth.

TOTAL 3 market capitalization of cryptocurrencies TOTAL 3 crypto market capitalization, 1 day chart | Source: X @wacy_time1

He categorizes current sentiment into three types of capitulation: price, time and growth, indicating varied investor behaviors that often precede market rallies. According to Wacy, the prevailing fear of further declines will likely eliminate weak hands, setting the stage for a supercycle driven by fear of missing out (FOMO) and the resulting heavy buying activity.

Top 6 Altcoins with the most potential

#1 and #2: WIF as well as PEPE are the memecoins highlighted by Wacy as potential frontrunners in the planned new season. “Look Wireless And PEPE, structurally similar to DOGE during its meteoric rise. These coins have cultivated a community and meme appeal that could very well be comparable to the market cap of SHIB during the previous cycle,” asserts Wacy. He notes that PEPE looks particularly ripe for a breakout, while WIF, although currently weaker, has the potential to cause rapid changes in market sentiment.

PEPE WIF Dogecoin Comparison | Source: X @wacy_time1

#3 Ondo Finance (ONDO): This Coin focused on real-world assets (RWA) is characterized by its strong buying support during price drops. Wacy views ONDO as an undervalued asset with significant upside potential. “ONDO has a resilient purchasing floor; even slight pullbacks to around $0.64 could offer lucrative entry points ahead of substantial upward trajectories,” he advises. Its first target is the $1.62 price zone.

#4 Arweave (AR): Known for its decentralized data storage solutions, Arweave is praised by Wacy for its strong market structure and resilience during economic downturns. Additionally, Arweave is building AO, a decentralized computing network that can be run from anywhere. “Arweave is not just storage; it is a fundamental technology in a decentralized future. A consolidation above $49 would likely be the catalyst for an explosive growth phase,” he predicts.

#5 Tier (PRIME): Wacy discusses PRIME’s multifaceted ecosystem, which includes a collectible card game and an AI-based game, both of which are gaining traction. “Echelon sits at the confluence of gaming technology and blockchain, attracting a wide audience with its innovative gameplay and decentralized features,” he notes. From a technical analysis perspective, PRIME price is near a favorable buying zone of $14.97 to $17.5. “Hoping that altcoins are already entering the altseason, I would like to see a V-shaped reversal,” says Wacy.

#6 Ethena (ENA): This synthetic dollar protocol offers an alternative to traditional banking services and is poised for growth. “Ethena’s trend on weekly charts usually precedes major price movements. With the next major unlock event scheduled for April 2025, the buildup could be substantial,” says Wacy. It compares the current price trajectory of the ENA with that of the SEI.

Comparison ENA and SEI | Source: X @wacy_time1

Strategic profit taking

Wacy also provides strategic advice on profit-taking, forecasting that the altcoin market index, TOTAL3, could reach between $2 trillion and $2.3 trillion in the second season. He suggests considering partial profit-taking once the market reaches around $1.6 trillion. His reasoning draws on historical patterns in which many investors fall prey to greed, resulting in substantial losses.

The analyst further advises preparing a profit-taking strategy in advance, advocating reserving 10-15% of positions for additional potential growth beyond initial targets. He warns that the final push of a growth phase often triggers excessive greed, suggesting that recognizing such signals could be crucial to exiting in a timely manner before bear market conditions arise.

At press time, WIF was trading at $3.58.

WIF price, 4-hour chart | Source: WIFUSD on TradingView.com

Featured image from iStock, chart from TradingView.com

Fuente

Up Next

Crypto Markets Under Pressure as $2 Billion Altcoin Tokens Unlocked and $11 Billion Bitcoin Distribution Loom

Don't Miss

Analysts predict the arrival of an “explosive rally” of Altcoins

CoinFlix Staff

We are the editorial team of CoinFlix, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on CoinFlix, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Click to comment

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

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

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.