In the past month alone, the cryptocurrency market capitalization has climbed from $2.5 trillion to nearly $3.36 trillion, a remarkable growth of 32.28%. Undoubtedly, the market is in the midst of a bull run. Many cryptos, including Bitcoin (30-day growth rate of 22.2%) and Ethrerum (15.7%), are benefiting from the positive crypto market scenario. However, it’s not the same for every crypto. This raises a difficult question: What to choose and what not to choose? Crypto expert VirtualBacon interestingly shares his views on maximizing gains by focusing on innovative projects while avoiding over-hyped projects like XRP. Here are the details
Crypto bull run continues
While the crypto expert predicts tremendous growth in the crypto market in the next 6 to 12 months, he acknowledges the possibility that not all cryptocurrencies will see tremendous growth in this cryptocurrency bull run and emphasizes that some cryptos have already reached their highest points. Emphasizing that historically, altcoins outside the top 10 cryptocurrencies have outperformed BTC by at least 5x, the expert estimates that mid-cap cryptos could grow by over 6x and low-cap cryptos could rise as much as 10 to 20x in the current bull run. Sticking to his primary argument, he predicts only a 2x increase for Bitcoin and a 3 to 4x increase for the other top ten cryptos, especially Ethereum and Solana.
https://x.com/VirtualBacon0x/status/1866274303332811167
Should XRP and XLM be sold?
The analyst emphasizes that there has been a dramatic 5-fold increase in the price of XRP, rising from $0.50 to $2.50 in just one month. They attribute this growth to individual FOMO and an increase in search interest. He claims that these are common indicators of late-stage hype. Despite the compelling ISO 20022 narrative, the analyst believes that similar tokens like XRP and Stellar have limited upside as they approach all-time highs. Instead, the analyst recommends Ethereum and Solana due to their solid use cases and growth potential. He also highlights Algorand as an undervalued asset that offers higher upside potential with its 80% circulating supply, strong exchange support and solid fundamentals.
The expert warns investors to avoid a number of risky cryptos. This includes XRP, SUI, Bitcoin Cash, Litecoin, Ethereum Classic, SAND, MANA, AXS, ENJ and GALA. His argument against XRP and SUI is that they are overvalued and overhyped. Meanwhile, he condemns Metaverse tokens for the lack of progress they have made so far and gaming tokens for being outdated.
Which altcoins to consider?
While he believes the top ten cryptocurrencies have less growth potential in the coming months compared to the others, he advocates investing in Ethereum and Solana due to their solid use cases. He also favors Algorand for being undervalued, Avalanche for its scalability, and Chainlink for being a leader in innovation in the DeFi ecosystem. He criticizes the popular Metaverse tokens for their lack of progress, but claims that Wilder World stands out. Likewise, while he expresses his dislike for established gaming tokens, he thinks some gaming tokens have enormous potential.
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