Altcoins
Here is a list of discounted altcoins with huge potential
The analyst/host of The House of Crypto viewed his latest video and stated that there is potential for a massive rebound for altcoins, especially as Bitcoin’s dominance appears to be waning. Historically, this marked the start of an altcoin season.
He discusses details altcoins currently rebounding and explores broader market trends. The MACD’s bearish crossover into Bitcoin dominance, which previously indicated altcoin seasons, is happening again, suggesting a possible surge in altcoins soon.
Various altcoins, such as Render, Fetch AI, and Pendle, are seeing gains. This is attributed to market manipulation by big players, which pushes retail investors into cycles of euphoria and panic.
He explained that some altcoins that were showing signs of hope and strength are now reeling, not because they are weak, but because of market manipulation. For example, Render is a good example of an altcoin that is currently in a buy zone and experiencing a rebound. Similar behavior is seen in Arweave and Axie Infinity, which have also rebounded from their buying zones.
Should you stay away from meme coins?
Even popular coins like SingularityNET and various meme coins have shown similar trends, indicating their recovery potential when market conditions improve. He advises against focusing solely on meme coins, even though some, like Turbo, are seeing significant movement. He argues that it is easier to make money from altcoins during market downturns, rather than when markets are at their peak.
The problem with meme coins is that they rely solely on hype and do not have venture capital (VC) firms driving up the price. This hype is fueled by people pumping money into the market, which attracts more investors as prices rise.
The analyst concluded by using CoinMarketCap to show how to find potential investments by looking at coins that are down over the past 90 days but are showing signs of recovery over the past 7 days. He identified several coins like Synthetix, Filecoin, Fetch.ai, and Immutable X as examples.