The cryptocurrency market, especially altcoins, has been giving support signals similar to Bitcoin in recent times. However, it should not be forgotten that we are still going through a period dominated by uncertainty. Both Bitcoin and altcoin market value charts have not yet made a clear and definitive move. In this case, investors continue to wait with curiosity in anticipation of the altcoin season.
What is the altcoin season?
The altcoin season is a period when Bitcoin’s market dominance decreases and altcoins begin to stand out. Currently, the market is not in such a period because Bitcoin’s dominance is increasing. In order for the altcoin season to begin, Bitcoin needs to break its own all-time highs and also show a decrease in market dominance. However, it is currently difficult to make a clear prediction about when such a move will occur.
The latest analysis by analyst Ellio Trades provides important clues for investors to be prepared for the altcoin season. Trades draws attention with a strategy in which investors determine the altcoins and crypto categories they should focus on. Ellio Trades calls this strategy a “high confidence basket” and states that investors should put a group of investments they truly believe in into this basket.
Coin recommendations from Ellio Trades
Ellio Trades draws investors’ attention to three main categories: gaming, artificial intelligence (AI), and meme coins. Since mid-2023, these categories have been the main sectors that stand out in the crypto world.
- Gaming sector
The gaming sector experienced a major leap in the fourth quarter of 2023. However, although there was a stagnation in the sector after this rise, some gaming coins that Ellio Trades likes were not seriously affected by this decline. In this field, Immutable stands out as one of the most promising projects with the most games. Beam is also seen as a strong investment vehicle. Ronin, on the other hand, stands out with its large user base. Superverse is known as the “community coin” of the gaming world, which gives it a significant advantage.
- Meme coins
Meme coins are another category that is rapidly gaining popularity in the crypto world. Instead of chasing new meme coins, Ellio Trades recommends focusing on coins that have already proven themselves. Coins such as Pepe and MOG in particular stand out with their market performance. For those looking for coins traded on the Solana blockchain, Dogwifhat and the currently popular Popcat are among the projects that stand out.
- Artificial intelligence (AI)
Artificial intelligence projects are also on Ellio Trades’ radar. He states that projects such as AOS, Destra and BitTensor are noteworthy in this area. He emphasizes that when investing in AI coins, these projects should be approached like meme coins, that is, focusing on stories and hype.
- RWA and L1 coins
Ellio Trades also focused on real-world assets (RWAs) in its analysis. The interest of major players such as BlackRock in this area in particular indicates that real-world assets can play an important role in the crypto world. In addition, he states that Layer 1 protocols are also important for investors. However, he states that these Layer 1 projects, which are competitors of Ethereum, are valued higher than in previous periods, and therefore do not offer great opportunities for investors anymore. Nevertheless, Celestia and Say Network are among the Layer 1 projects that Ellio Trades thinks should be followed. Although the increase in the overall size of the market has reduced the opportunities in such projects, they still have investable potential.
Although uncertainties currently prevail in the market, according to Ellio Trades, it is possible to make big profits with the right strategy and carefully selected investments. By focusing on categories such as gaming, artificial intelligence and meme coins in particular and developing strategies based on hype, opportunities can be caught before the altcoin season. Ellio Trades predicts that these altcoins can gain 20 times their value by December. However, investors need to be careful despite such ambitious predictions and consider the volatile nature of crypto markets. Changes in Bitcoin’s market dominance will play a critical role in determining when the altcoin season will begin. As a result, although there is currently no clear altcoin season in the cryptocurrency market, it is possible to create investment opportunities by focusing on closely followed projects and sectors.
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