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Crypto Trader Describes His Technique to “Spot Altcoins Before a 100x Surge”

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Crypto Trader Describes His Technique to “Spot Altcoins Before a 100x Surge”

April 25, 2024 2:51 p.m. | 2 minutes of reading |

Pseudonymous crypto influencerReflection” revealed his secrets for spotting small-cap altcoins with the potential to soar in the next season.

What happened: In a thread on XThe thinking highlights the importance of understanding market cycles and investor emotions to identify promising altcoins.

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This doesn’t require 200 IQ, all you need is to find the “I’m done” pattern

Here’s MEGA-🧵on how to spot alts before a 100x surge👇 pic.twitter.com/vPZal42iHU

– Reflection🪩 (@0xReflection) April 24, 2024

It suggests that during major cooling-off phases characterized by a decline in trading volume and public interest, investors often feel less enthusiastic, or even depressed, about their investments.

However, Reflection sees this as an opportunity for smart money to act, as buying in moments of fear or pessimism can lead to significant profits.

He cautions against buying when enthusiasm is overwhelming, as this often signals an approaching peak. Instead, he advises patience and recommends focusing on coins with good fundamentals, a large gap between current and potential prices, and a chart displaying the “I’m done” pattern.

Read also: Trader Predicts ‘At Least 3 Meme Coins Above $100 Billion Market Cap’: Here Are the Coins Benzinga Followers Liked the Most

Why is this important: Reflection’s insights highlight inefficiencies in the crypto market, where there can be discrepancies between a coin’s true value and its market indicators such as market cap, daily users, and funding.

By focusing on fundamentals and market sentiment, investors can potentially identify undervalued coins poised for growth.

Any cryptocurrency other than Bitcoin is an altcoin, including leading meme coins like Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB) And dog hat (CRYPTO: Wireless). These meet Reflection’s criteria because they have strong fundamentals, wide price spreads, and trends indicative of potential growth.

And after: The influence of the pieces themselves and Bitcoin as an institutional asset class are topics that should be explored in depth at the next Benzinga conference The future of digital assets event on November 19.

Read next: Only Dogecoin and Shiba Inu have crossed the $10 billion mark Meme Coin: “Who will be the third? “, reflects Crypto Whale

This content was partially produced using AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Falling Cryptocurrency Speculation Index Suggests Bitcoin (BTC) Bull Market Reset

TokenTalk Staff

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Falling Cryptocurrency Speculation Index Suggests Bitcoin (BTC) Bull Market Reset

Bull markets are observed to stagnate during periods of excessive optimism, only to pick up again once the speculative froth has dissipated.

Capriole Investments Crypto Speculation Index Shows Speculative Excesses spread during First quarters have dissipated, indicating potential for further bullish bitcoin price action (BTC)the leading cryptocurrency in terms of market value.

The speculation index, which measures the percentage of alternative cryptocurrencies (altcoins) that have a 90-day return higher than bitcoin, has stabilized below 10%, down sharply from a January peak of nearly 60%. Bitcoin, the market’s top cryptocurrency, hit new records above $70,000 in the first quarter and has since fallen back to $58,000.

At the time of writing, there are over 14,800 altcoins in existence, according to data source Coingecko. Most of these coins are illiquid and have difficulty proving their utility. As a result, altcoins are generally considered speculative instruments, with volumes closely related to Google Trends, an indicator of retail investor interest, and the outperformance of altcoins relative to BTC are seen as a sign of speculative mania.

Speculative collapses serve as corrective mechanisms, helping to realign asset prices with fundamentals and tempering excessive speculation. They thus lay the foundations for a healthier long-term environment.

This is what happened in the cryptocurrency market. Since 2019, a speculation index below 10% has coincided with the beginning of strong increases in bitcoin, as observed in the first half of 2019, at the end of 2020 and in the second half of 2023.

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Bitcoin, Altcoins in Focus as Market Eyes Ether ETF, Fed Chair Commentary, and More

TokenTalk Staff

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Bitcoin, Altcoins in Focus as Market Eyes Ether ETF, Fed Chair Commentary, and More

The cryptocurrency market is abuzz with a series of key events expected to impact Bitcoin and altcoin trading this week. The cryptocurrency market has been highly volatile lately, with government BTC meltdowns, Mt. Gox repayment issues, and other related factors. However, this week would be a pivotal one for the digital asset space, with a series of events expected to weigh on market sentiment.

Bitcoin and Altcoin Traders Watch This Week’s Key Events

Ethereum ETF to Fuel Market Sentiment

The buzz that is skyrocketing above the Ethereum Spot ETF in the United States The SEC approval has been evidenced by the recent discussions in the cryptocurrency market. Apart from altcoins, the approval is also expected to show its impact on the performance of Bitcoin.

Meanwhile, recent comments from Bloomberg senior ETF analyst Eric Balchunas and ETF Store president Nate Geraci highlight the SEC’s silence on the matter. However, despite the regulators’ “mute” stance, experts have nonetheless provided an optimistic outlook for a possible approval or breakthrough in the coming week.

The market is particularly expecting Bitcoin and altcoins to rally following the approval of the Ethereum ETF. In addition, the recent massive inflow of capital into the Bitcoin spot ETF in the US has further boosted market sentiment.

Statements by Fed Chairman and Other Officials

In macroeconomic news, Fed Chairman Jerome Powell is scheduled to speak on Monday, July 15, and the financial sector is likely to be watching closely. Given the mixed inflation data of late, Powell’s commentary will be crucial in assessing the central bank’s current stance on monetary policy.

To put things in context, the latest US CPI data indicated a significant slowdown in inflation in the country. Notably, it also increased bets on three interest rate cuts in 2024, versus previous expectations of two rate cuts. However, IPP in the United States Last week was warmer than expected, which weighed on overall market sentiment.

That being said, if the Fed chair comments on the central bank’s upcoming interest rate plans, it could influence Bitcoin and cryptocurrency market sentiment. Additionally, other Fed officials, such as Fed Governor Adriana Kugler, New York Fed President Williams, and Atlanta Fed President Raphael Bostic, are also expected to provide remarks this week.

Ripple and SEC sue

The price of XRP rose significantly over the weekend, with July 13 being a significant date in Ripple’s lawsuit against the SEC. On July 13, 2023, Judge Torres ruled that XRP was not a security, and this year, Ripple executives welcomed the development.

Therefore, XRP The price of XRP has surged by more than 12%, reflecting the growing market interest in the cryptocurrency. However, in this context, the US SEC has announced that it will hold a “closed-door” meeting on July 18. That said, the XRP community is speculating that the meeting could be focused on a possible settlement in the Ripple vs. SEC lawsuit.

Moreover, many market experts also expect the legal battle to be concluded soon. Considering this, the conclusion of the lawsuit is likely to have a significant impact on the altcoin sector as well as Bitcoin.

Read also : Binance CEO Shares Post-CZ Era Developments and Crypto Outlook

What’s Next for Bitcoin and Altcoins?

Events will play a crucial role in the future of cryptocurrencies. In addition, the selling pressure from the German government has also decreased, as the government sold its last BTC in the previous week.

On the other hand, BTC Spot ETF in the United States According to the latest reports, issuers around the world are on a buying spree. If the momentum continues, the price of BTC could rise significantly. In a recent analysis, cryptocurrency market expert Ali Martinez said that if Bitcoin can break above $59,200, the next stop for BTC could be around $64,000.

Source: Ali Martinez

Let’s talk about the altcoinsCrypto analyst Michael van de Poppe sees a bright future for the sector. After a recent price correction, van de Poppe points to a strong weekly rebound and supports a market cap of around $500 billion. Based on this, he predicts that altcoins will reach a new all-time high by early 2025.

Source: Michael van de Poppe

Read also : Solana Co-Founder Highlights US Government’s ‘Mess’ Over Cryptocurrency

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Altcoins to be sold off as stablecoin volume drops

TokenTalk Staff

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Altcoins to be sold off as stablecoin volume drops

Attempts at a sustainable recovery in the cryptocurrency market continued to fail this week, starting with Bitcoin’s failure to break above $60,000 on Thursday. At the same time, stablecoin volumes declined significantly to a seven-month low of $970 million. At first glance, this outlook may not raise eyebrows, but further evaluation could prompt altcoin investors to sell this weekend to avoid the rabbit hole.

According to a report on the state of the stablecoin sector, June marked the third consecutive month of declines – 18%, mainly in USDT. Attached is the most dominant stablecoin, “accounting for 78.4% of volume among the top 10 stablecoins by market cap.”

Stablecoins are often the entry and exit route to the cryptocurrency market. They also help facilitate the majority of trading in the market. Therefore, a persistent decline in volumes may indicate a decline in trader interest.

For this reason, it might be prudent to consider selecting altcoins to sell before further price drops engulf cryptocurrencies.

3. Altcoins for Sale – Slerf (SLERF)

Slerf is one of the biggest crashes in the cryptocurrency market, and it was a good thing. The project presents itself as a fun and engaging project coin meme for the community. However, the launch was not a cakewalk as the developer accidentally burned all the tokens (liquidity and airdrop allocations). The combined value of the burned tokens exceeded $10 million.

The price of SLERF then surged, with market participants calling it the most secure meme coin on the blockchain. After reaching an all-time high of $1.3, or 7.7 times the launch price, SLERF began to retrace and is currently at $0.186, down 86%.

Slerf retains the title of the most liquid meme coin on Solana and has continued to secure partnerships across the Solana ecosystem. The 24-hour trading volume for SLERF is up 4.6%, indicating that investor interest in the token is increasing.

SLERF price is near a critical level. If it falls below this level, it could reach new all-time lows.

2. Arbitration (ARB)

Over the past week, ARB has been trading in a range between $0.6825 and $0.733, showing a notable 17% increase in value. The cryptocurrency reached its all-time high of $2.40 six months ago, but has since declined significantly, currently trading around $0.69.

Arbitration
ARB Price Chart | CoinGecko

Despite this decline, recent performance indicates a positive trend, recovering from its all-time low of $0.5773, recorded just seven days ago.

According to DefiLlamaArbitrum currently has a total value locked (TVL) of around $2.829 billion. In the last 24 hours, the platform has seen inflows of around $9 million. Additionally, Arbitrum’s treasury holds $44 million and the platform has raised $123 million to date.

Arbitrum price is currently experiencing a significant decline in a bearish market environment. If this negative sentiment persists, Arbitrum’s value could stabilize at $0.68. If market conditions deteriorate further, a drop to $0.67 could occur, reflecting a deeper bearish impact. An intensification of the downturn could push the price down to $0.68.

Conversely, Arbitrum Prize The cryptocurrency price could enter a bullish phase if investor confidence improves. A market reversal would likely push its value beyond the $0.70 resistance level. Continuing on this path, the cryptocurrency could approach $0.90. It could even reach $1 in the near future.

Related Articles

Frequently Asked Questions (FAQ)

The term altcoins is used to refer to alternative cryptocurrencies to Bitcoin. Ethereum is the most dominant altcoin.

Stablecoins are cryptocurrencies pegged to real-world assets like the dollar to reduce price fluctuations, making them ideal for everyday transactions in the crypto world.

It depends on individual investors, their goals, and their understanding of the cryptocurrency market. The ongoing correction could be interpreted as a buying moment, especially if the selling pressure subsides.

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Cryptocurrency trader says Solana-based altcoin is poised for further plunge, outlines path ahead for Pepe and Dogecoin

TokenTalk Staff

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Cryptocurrency trader says Solana-based altcoin is poised for further plunge, outlines path ahead for Pepe and Dogecoin

A prominent cryptocurrency strategist believes that a dog-themed Solana (GROUNDThe memecoin based on ) is heading towards much lower prices.

In a new video, pseudonymous analyst Credible Crypto tell his 55,500 YouTube subscribers who dogwifhat (Wireless) has probably not yet reached the market floor.

“I think we might see some kind of dead cat twist here, but I don’t think the flip side is over.”

Source: Credible Crypto/YouTube

Looking at his chart, the trader suggests that WIF could correct to $0.80 with price bounces along the way.

WIF is trading at $1.60 at the time of writing, up nearly 3% in the past 24 hours.

Then the analyst says that the memecoin Pepe (PEPE) could see a correction of around 90% from its all-time high of $0.0000171.

“We obviously have a significant support area here in the green zone. [between $0.0000059 and $0.0000040] “So we could see some sort of rebound from there. But ultimately, I think it’s going to continue to go down.”

Source: Credible Crypto/YouTube

Based on the trader’s chart, he seems to predict that PEPE could drop as low as $0.00000185.

Pepe is trading at $0.00000876 at the time of writing.

Finally, the analyst claims that the dog-themed memecoin Dogecoin (DOGE) could retest higher resistance levels if Bitcoin starts to recover.

“Cryptocurrencies like DOGE could see some relief to the upside. You have reached our first target zone of downside demand – a logical place to see a bounce.

We’ll probably see a bounce with Bitcoin. And then we’ll probably find some resistance and then continue to bleed as Bitcoin continues to surge. And that’s where we get this kind of prolonged bleeding to the downside…

Dogecoin: A logical place to be interested at $0.10. But there is a chance we could go lower if this region is lost. We could definitely see a bounce here.

Source: Credible Crypto/YouTube

Looking at his chart, the analyst suggests that a possible scenario would be for DOGE to drop to around $0.084, retest resistance at around $0.15, and crash all the way to $0.06.

DOGE is trading at $0.108 at the time of writing, up slightly over the past 24 hours.

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Copyright © 2024 TOKENTALK.TOP. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.