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Cryptocurrency News Articles

Which Altcoins Should You Buy? Here Are 6 Picks From the Experts

Aug 15, 2024 at 03:07 pm

The crypto flash crash happened just over a week ago. Interestingly, retail investors like us were slow to react, while professional traders quickly took advantage of the dip.

Which Altcoins Should You Buy? Here Are 6 Picks From the Experts

The crypto flash crash that occurred a week ago has left many retail investors wondering what went wrong. While professional traders were quick to capitalize on the dip, retail investors were slow to react, leading to questions about their investment strategies.

According to an analysis by Altcoin Buzz, the crypto flash crash was likely driven by leveraged-based liquidations targeting short-term traders. Despite the sharp drop, the crypto markets rebounded quickly, thanks in part to the strong fundamentals of some coins.

Based on the analysis, here are some low-risk investment picks for the next 90 days:

Bitcoin (BTC): With speculation that other countries might follow El Salvador in adopting Bitcoin, demand could rise. Additionally, during recent market dips, institutional investors were active, while retail investors were not. This trend suggests Bitcoin could benefit from increased global liquidity.

Super (SuperRare) (RARE): The announcement of a new fund by Grayscale could boost its profile. While it has a low circulating supply (only 25% of the total), which could be a concern, it remains a strong pick.

Akash Network (AKT): Despite a tough few months and a significant price drop, Akash Network remains a solid project. Its fundamentals haven’t changed, making it a potential buying opportunity at a discounted price.

Host of the channel Discover Crypto also gave a list of altcoins to keep an eye on for massive gains.

Here are some of the altcoins that could potentially see huge gains in the next 90 days, according to the analysis:

Avalanche (AVAX): Avalanche is receiving backing from major players, including Galaxy Digital’s $26 million fund. This institutional interest shows the strong belief in Avalanche’s technology and its potential for growth. Avalanche’s current market cap is lower than some of its peers, but with a target of reaching $80 billion this cycle, there is room for gains.

Polkadot (DOT): Polkadot has been praised for its innovative technology and scalability solutions. Additionally, Polkadot’s price is currently quite low compared to its all-time high, showing a potential buying opportunity. With a current market cap much lower than its potential, Polkadot could see a rise to a $40 billion to $80 billion market cap this cycle. This would imply a price target of around $27 per DOT.

Solana (SOL): Solana has been making waves with its fast transactions and low fees, and recent developments suggest that it could reach new heights. Currently, Solana has a market cap of around $68 billion. Considering its performance, a market cap of $200 billion is feasible within this cycle. At its current price of $141, this would mean a price of approximately $429 per SOL.

Original source:coinpedia

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