3 Cryptocurrencies That Should Soar After Bitcoin Hits Bottom, According to Analyst

Bitcoin (BTC) and Ethereum (ETH) have been trying for weeks to preserve their supports amid an adverse macro scenario, but there are already those who are betting that the crypto market as a whole is closer to a turning point than imagined – and they are already starting to betting your chips on the smaller cryptos that are more likely to skyrocket in price next.

Asset managers at Ark Invest and Valkyrie point out that Bitcoin may have already bottomed out, meaning the cryptocurrency shouldn’t fall further even in an even more challenging scenario for risky assets, with further interest rate hikes from investors. United States on the horizon.

Steven McClurg, co-founder of Valkyrie, argues that the United States is already in recession, but that Bitcoin is still showing signs of “constructive advances”, referring to the small increase in “supply held by investors with a long-term focus”. deadline”.

As for Frank Downing, research director at Ark Invest, “the number of long-term holders is above the short-term ones, which historically is a strong signal of a bottom. [de mercado]”.

CONTINUE AFTER ADVERTISING

According to the Valkyrie executive, this shows that “markets are clearly on a bearish trajectory right now” but that “cryptocurrencies are likely closer to the bottom than the S&P 500 or Nasdaq stock indices.”

If this analysis is correct, we could now be seeing very inviting prices for cryptocurrencies – and not just for BTC and ETH. But, which cryptocurrency to choose among the thousands that exist on the market?

Trader and investor Vinícius Terranova warns that a new Bitcoin drop may still happen before the bottom is actually reached, but warns: whoever is positioned in the following cryptocurrencies has a better chance of winning amid a possible recovery.

They are: the renowned Binance Coin (BNB); the “eternal promise” Cosmos (ATOM) and the “newbie” GMX (GMX).

Check out, in the video above, what leads the expert to believe that these are the most promising projects at the moment, as well as tips to find the best time to make the contributions.

CONTINUE AFTER ADVERTISING

Sign up and discover how to surf the Metaverse Boom and turn this technological evolution into excellent investment opportunities

Source link

About Admin

Check Also

NVIDIA GeForce GTX Titan X Dev Preview Purchased by Enthusiast

An example of engineering, that is, of the development of NVIDIA GeForce GTX Titan X …

Leave a Reply

Your email address will not be published. Required fields are marked *