3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin 

Time to Diversify? Analyst Predicts Altcoin Boom in Q2 2024 Post Bitcoin Peak

The post 3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin  appeared first on Coinpedia Fintech News

As the crypto market goes through a correction phase and Bitcoin’s price stays around $68,000, investors are rethinking their strategies. With Bitcoin’s slow movement, the focus is shifting to altcoins, which could lead to the beginning of the next bull run.

In the meantime, prominent crypto trader Ash Crypto highlighted three undeniable reasons why altcoins are the best buy in the current market conditions.

Key Indicators Favoring Altcoin

1.  Alt/BTC Chart Indicators

Ash Crypto highlights that altcoins, excluding the top 10, are currently at their lowest level in a year compared to Bitcoin (BTC). This significant drop is viewed as a sign of investor sell-off, where investors sell off their holdings, leading to a market bottom.

Historically, such low levels have often come before major market reversals, making this a potentially good time to buy altcoins before a possible surge.

2. Upcoming ETH ETF Trading

Another critical factor driving Ash Crypto’s bullish outlook on altcoins is the upcoming launch of Ethereum (ETH) ETF trading. With trading set to begin in a few weeks, Ethereum is expected to lead the market. This move is expected to shift investor focus and funds from Bitcoin to Ethereum and other altcoins.

3. Altcoins’ Current Valuation

Despite Bitcoin recently reaching a new all-time high (ATH), 95% of large-cap altcoins are still down by 30% to 70% from their ATHs. This indicates that many altcoins are still in oversold territory, a condition historically associated with good buying opportunities.

Shifting Market Sentiment

The ongoing situation in the crypto market has many investors thinking about diversifying their portfolios. As the altcoin market shows promising signs of a possible bull run, driven by factors such as upcoming ETH ETFs and the shifting interest from Bitcoin to altcoins.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Chainlink’s CCIP Enables Seamless Onchain Payments for XPay by XSwap
XSwap has adopted Chianlink’s CCIP for its new XPay tool, ensuring secure and efficient onchain pa...
READ MORE
default post thumbnail
Legendary Trader Warns: Bitcoin Could Plunge Below $50,000 If These Key Levels Break
Renowned trader Peter Brandt recently provided insights on the Bitcoin price potential market moveme...
READ MORE
default post thumbnail
Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million
Dogecoin is currently at a critical price junction that might determine its price trajectory in the ...
READ MORE
default post thumbnail
MATIC Price Tests 8-Month Support As Polygon Unveils New Governance Hub
Polygon’s native token, MATIC, has experienced a notable disparity compared to the broader cryptoc...
READ MORE
default post thumbnail
Ethereum HODLers Scoop 298,000 ETH In 24 Ahead Of Spot ETF Trading
Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on,...
READ MORE
default post thumbnail
Ethereum Withdrawals From Coinbase Top $1.2 Billion, What’s Going On?
Ethereum has seen a number of notable withdrawals that suggests that crypto whales are expecting a r...
READ MORE
default post thumbnail
Dogecoin Plunges 11%, But This On-Chain Cushion Could End Decline
Dogecoin has observed a plummet of 11% over the past week, but this decline may not continue further...
READ MORE
default post thumbnail
Polkadot (DOT) Token Utility
Polkadot is a protocol designed to connect different blockchains, enabling the transfer of value and...
READ MORE
default post thumbnail
Bitcoin-Focused Book Inspired Bill To Abolish Federal Reserve
US Congressman Thomas Massie has said that he was inspired by a Bitcoin-focused book, The Bitcoin St...
READ MORE
default post thumbnail
UwU Lend Offers $5M Bounty For Information On Attacker
The team behind the UwU Lend protocol has offered a $5 million bounty to whoever can identify its at...
READ MORE
Read more posts