Altcoins

Miles Deutscher’s Top Altcoins After Bull Market Signal

Published

8 months ago

6 June, 2024

Analyst Prepares for Altcoin Season as Crypto Whale Spends Millions

Crypto analyst Miles Deutscher has highlighted a significant bullish move in Bitcoin, sparking speculation about the top altcoins to watch. He noted Bitcoin’s impressive rise to over $71,000, marking a potentially pivotal moment for the crypto market. The increase comes amid the highest daily inflows ever for Bitcoin spot exchange-traded funds (ETFs) since, indicating strong institutional demand.

Deutscher pointed out that Bitcoin’s performance could have a ripple effect on altcoins, as positive market sentiment often spills over to other digital assets. He shared his views on the top altcoins that could benefit from this bullish momentum.

Ethereum (ETH):

Ethereum remains one of the main competitors in the altcoin market. Deutscher emphasized that the anticipation around a Ethereum Spot ETF could attract significant interest and investment.

“If Bitcoin signals strong institutional demand, it makes sense that a fraction of that demand also applies to Ethereum,” he said.

Ethereum’s role as the leading blockchain for decentralized applications (dApps) and smart contracts positions it as a critical player in the crypto ecosystem.

The potential approval of an Ethereum ETF would provide institutional investors with easier access to Ethereum, likely driving up its price. Furthermore, ongoing developments aim to improve scalability, securityand energy efficiency, adding to its long-term appeal.

Binance Coin (BNB):

Binance Coin, the native token of the Binance ecosystem, is another altcoin that Deutscher believes has strong potential. BNB showed resilience, reaching new all-time highs and breaking major levels on the weekly chart. Deutscher suggested that BNB’s high market cap might not lead to exponential gains but nevertheless represents a solid trade.

Binance Coin (BNB) Price Performance. Source: Trading View

BNB is an integral part of the Binance Smart Chain (B.S.C.), a blockchain network that supports smart contracts and decentralized applications. BSC has gained popularity due to its lower transaction fees and faster processing times than Ethereum. As more projects are developed on BSC, the demand for BNB is likely to increase, further increasing its value.

Floki (FLOKI):

Deutscher identified Floki as a meme coin with substantial upside potential. He compared his current breakout to Pepe’s price action, noting similar trends that could signal an increase of 20% or more.

Parts same as Floki often experiences rapid price movements driven by social media hype and community engagement. Although inherently risky, these coins can offer significant short-term gains to those who plan their investments well.

“The Floki and Pepe graphics are mirroring each other right now,” he observed.

Deutscher suggested that Floki could follow Pepe’s upward trajectory. Nonetheless, investors should be careful and consider the volatile nature of meme coins when making investment decisions.

Pancake exchange (CAKE):

CAKE token from PancakeSwap is another altcoin that Deutscher is closely monitoring. He noted that CAKE begins to reclaim important support levels and break through important moving averages. As the Challenge the sector is growing, platforms like Pancake swap are becoming more and more important.

“If BNB continues its upward trend, CAKE could also benefit as the main DEX token within the Binance Smart Chain ecosystem,” explained Deutscher.

PancakeSwap (CAKE) Price Performance Price performance of PancakeSwap (CAKE). Source: Trading View

PancakeSwap is the leading decentralized exchange (DEX) on the Binance Smart Chain, allowing users to trade tokens without a centralized intermediary. Investors should look for signs of a sustained upward move and consider CAKE’s potential as a key market player. Challenge space.

Ondo Finance (ONO):

Ondo Finance is highlighted as a key player in the real world asset (RWA) sector. With continued bullish price action and significant market interest, ONDO stands out.

Tokenization of real-world assets involves the creation of digital tokens representing ownership of physical assets, such as real estate or commodities. This process can increase the liquidity and accessibility of these assets.

Price Performance of Ondo Finance (ONDO). Source: Trading View

Deutscher highlighted ONDO’s strong performance and potential for further gains, especially as the market continues to recognize the value of tokenization of assets And staking. The integration of traditional financial assets with blockchain technology is a growing trend, and Ondo Finance could capitalize on this movement.

Strategic Outlook and Market Sentiment

Deutscher’s analysis draws on broader market dynamics, including institutional flows and improving sentiment. He pointed out that the current bullish sentiment is driven by the performance of Bitcoin and the strategic decisions of major financial players like BlackRock and Citadel.

These institutions push the tokenization narrative, which could further increase interest in altcoins associated with RWA.

He also urged investors to remain vigilant and informed about market trends, particularly given the potential for large movements in response to ETF approvals and other macroeconomic factors. “Your goal is to outperform the market,” advised Deutscher, emphasizing the importance of staying ahead of trends and making informed investment decisions.

Learn more: 10 Best Altcoin Exchanges in 2024

In conclusion, Miles Deutscher’s insights provide a comprehensive guide for crypto investors looking to capitalize on the current uptrend. By focusing on strategic altcoins like Ethereum, Binance Coin, Floki Inu, PancakeSwap, and Ondo Finance, investors can position themselves to benefit from current positive market sentiment and institutional interest.

Disclaimer

In accordance with the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and current information. Readers are, however, advised to independently verify the facts and seek professional advice before making any decision based on this content. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.

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

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.