Bitcoin and Altcoins Recover, Sparking Investor Hope
Bitcoin and altcoins have given investors hope again with the recovery they have experienced in recent days. At this point, the rising wave in altcoins has excited the cryptocurrency community, while expectations for a BTC and altcoin rally in the market have also increased.
Analyst Insights on Altcoin Investment
While Bitcoin dominance is showing a slight decline, famous analyst Miles Deutcher listed the factors that investors who want to prepare for the altcoin rally should pay attention to when investing in altcoins. Explaining his own tips for investors to identify the best altcoins, the analyst grouped them into four categories.
Categories of Altcoins to Consider
The analyst said that first of all, altcoins that have experienced oversold, altcoins with strong narratives, altcoins with upcoming important news, and altcoins that give technical bullish signals should be identified and invested accordingly:
“Here are the altcoins that will rise the most:
- Oversold Altcoins: Look for tokens that have dropped significantly or are heavily shorted.
- Strong Narratives: Look for tokens that are linked to strong stories, such as AI or games.
- Upcoming Catalysts: Find tokens gaining attention due to upcoming events or news.
- Technical Indicators: Choose tokens where technical signals are bullish, including key support and resistance levels.
Take note of these criteria and prepare your watchlists. I already watch multiple altcoins.
*This is not investment advice.