April 3, 2024 7:13 p.m. | 2 minute read |
famous cryptocurrency analyst michael van de poppe We have identified a list of the top 10 altcoins that offer significant buying opportunities amid market declines.
what happened: in X Van de Poppe highlighted the current market situation in a thread (formerly known as Twitter) on Wednesday, stating that altcoin market caps have seen a correction but still have the potential for further upside. He pointed out that there was. He added that although minimal, “altcoins are not falling against Bitcoin, it's just a Bitcoin correction.”
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Van de Poppe also pointed out that Bitcoin's dominance has peaked and many altcoins are significantly undervalued by Bitcoin's valuation. He emphasized that real money was made in times like this, not when everything was so expensive.
He cited Chainlink and Celestia as the top two altcoins that offer huge opportunities for investors.
- wire mesh (CRYPTO: LINK): Valuations are currently at cycle lows, down 40% from their peak, creating a buying opportunity.
- Celestia (CRYPTO: TIA): A relatively new project that could be a big upside this cycle, down 61% from its peak, creating room for further buying.
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Also read: Invest in altcoins now or wait? What the experts say may surprise you
Van De Poppe pointed out some more promising altcoins:
- Arbitrum (CRYPTO: ARB): Massive unlocking occurred last month, leading to selling pressure. A powerful Layer 2 rollup system can be one of your most powerful gains.
- Polka dot pattern (CRYPTO: DOT): Valuations are still at cycle lows. Polkadot 2.0 was released, demonstrating strong incremental growth of the ecosystem.
- universe (CRYPTO: ATOM): Still undergoing a downward correction, making it the most undervalued project, but still suffers from the “potential impact of a bullish divergence on the weekly timeframe.”
Dai DX (Crypto: DYDX), woo network (cipher: WOO), Surname (Kryptosei), scale network and covalent nature (CRYPTO: CQT) is one of the other altcoins that is expected to generate profits for investors.
what's next: In conclusion, the trader says: “You don't have to pick up the smallest gem to get high returns. Timing the market well will pay off.”
The impact of memecoins and Bitcoin as an asset class for institutional investors is a topic expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on November 19th. .
Read next: Top crypto trader says altcoins will skyrocket following 'very healthy' correction as Bitcoin price stabilizes
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