Altcoins

Weird but wonderful: 3 Altcoins with 10X potential this year

Published

8 months ago

22 May, 2024

CoinFlix Staff

Altcoins to Buy - Weird But Wonderful: 3 Altcoins With 10X Potential This Year

What are the best altcoins to buy this year? Let’s look at 3 AI-powered altcoins that have the potential to be 10X

Source: Chinnapong / Shutterstock

Altcoins are getting weirder and more wonderful over time, from multitasking blockchains to AI-powered graphic design. This is certainly a far cry from the original cryptos created simply as a form of currency. This leaves us spoiled for choice when it comes to which altcoins to buy.

But cryptos are inherently high-risk investments for speculators who invest their hard-earned money in them. So I have selected three altcoins to buy that I believe have enough potential to reach 10X this year.

This potential comes from factors such as proven growth, upcoming projects, general acceptance and financial support.

Additionally, if you look at the charts, you will see almost all AI altcoins positioned in a bullish cup and handle formation. This aligns perfectly with upcoming AI sector launches that will serve as catalysts for AI cryptos. OpenAI notably, will launch several projects this summer that will serve as such catalysts.

Here are 3 AI-powered altcoins to buy.

Toncoin (TON-USD)

An image of different crypto coins imposed with a binary code

Source: Have a nice day Photo/Shutterstock

Toncoin (TON-USD) is a blockchain initially developed by Telegram. Today it is developed by The open network (TON) Foundation. Blockchain works on games, transactions, NFTs and more.

TON climbed to revisit its recent all-time highs. The anticipated launch of Notcoin The (PAS) token on the TON network was one of the driving forces behind this decision. He saw $294 million in trading volume on the single launch day of May 16.

The chart shows strong buying pressure against resistance. The price action appears even more bullish than its recent surge that created an all-time high. A bull flag is currently forming just below.

A breakout of the all-time high of $7.63 could see prices reach $10 in the near term. No more chart resistance after that. This makes it one of the most interesting altcoins to buy this year.

Keep an eye on broader crypto market conditions as well as AI catalysts. These will help confirm TON’s upward movements in the future.

Return (RNDR-USD)

The cryptographic Render (RNDR) logo displayed on a smartphone screen.

Source: Maurice NORBERT / Shutterstock.com

Give back (RNDR-USD) produces decentralized GPU-based 3D rendering solutions. RNDR token increased after their project ended introduced to Apples (NASDAQ:AAPL) recent event. Like TON, RNDR forms a huge short-term bull flag. This is at the same time as the cup and handle pattern on the long term chart that most AI cryptos display. This confluence of patterns holds great promise for higher prices this year.

If the bull flag plays out as expected, RNDR could reach $17 depending on the cup and handle target.

But the success of this project will largely depend on AI enablers. These include Cat GPT-5OpenAI search engineand the video product Sora. Look at how the AI sector performed over the summer. This will have an impact on the price of RNDR. The better the AI catalyst builds, the better they look. But successful launches are essential! Monitor this area closely.

Akash (AKT-USD)

an image of a cloud printed on a circuit board illuminated by blue lights. AVCT actions. cloud computing stocks

Source: Blackboard/Shutterstock

Akash (AKT-USD) is one of the pioneers of cloud computing, using open source blockchain technology and proof-of-stake ecological consensus mechanism.

Following my analysis of AKT last weekthe AKT coin seems to consolidate its position within a Elliot Wave third step. It completed a 5 wave pattern going back to resistance, which could be the first leg of wave 3.

On the fundamentals side, it has been rising recently in response to a combination of OpenAI’s upcoming announcement and Akash Network’s upcoming event in Argentina.

AKT looks very bullish on its long-term price chart. A massive cup and handle pattern is visible. If this happens with the confluence of Elliot wave patterns, AKT could break out hard.

Despite the technical aspects, near-term progress depends on the success of the next AI enablers. Look for a breakout of $6.15 for a potential entry point.

As of the date of publication, Sam Farnham did not hold (either directly or indirectly) any positions in any securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.

Since 2012, Sam has helped investors, traders and wealth seekers with his technical and fundamental analysis of financial markets and has developed six trading systems during this time. He is always looking for additional financial opportunities to share with readers.

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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.

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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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Altcoins

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

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

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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.