Altcoins
Best Altcoins for the Next Bull Cycle: Santiment’s Recommendations
As Bitcoin (BTC) approached the $67,000 mark on Friday, the altcoin market, led by Ethereum (ETH)has shown strong bullish signals. Many altcoins are reaching the peak of a multi-week consolidation phase that began earlier this year. On-chain data also indicates that institutional investors have been actively buying crypto assets, preparing for the next phase of the bull market.
Additionally, several altcoins have recently retested the bullish breakout of the overall downtrend. With Bitcoin dominance set to decline, focusing on the altcoin market could be a smart move to maximize returns.
Expert advice: What should you pay attention to?
According to market intelligence platform Santiment, investors should keep an eye on the average trading returns of different assets.
After critically analyzing market data, Santiment believes that Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.
Meanwhile, Santiment pointed out that Toncoin (TONNE), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk to maximize profits in the planned alternative season.
Market Outlook: Volatility Ahead?
With the Federal Open Market Committee (FOMC) expected to deliver its policy statements next week, increased volatility in the cryptocurrency market is likely. Furthermore, historical data suggests that August could bring a bearish trend for the sector.
Despite this, the cryptocurrency market is expected to turn bullish again in the fourth quarter, driven by the US elections and anticipated interest rate cuts.
Read also : Kennedy Jr. Proposes $615 Billion Bitcoin Investment After Election Victory
Invest smart. The future of cryptocurrencies is bright.