Altcoin
Altcoins Preparing for ‘Smallest Altseason,’ Analyst Releases His ‘Top Picks’
In the cryptocurrency space, everyone is eagerly awaiting a major altcoin breakout. However, it often seems like we are waiting forever with nothing happening. Typically, the best time to buy is when prices are at or above the bull market support range. Currently, second the analyst of ‘The Fomo Factory’ the market is showing some promising signs.
The analyst noted that if a major altcoin season were to occur, it will likely be the smallest one yet, which makes sense. In previous cycles, fewer altcoins were available, but now the market is flooded with meme coins, new Solana coins, and numerous IDOs. This proliferation dilutes potential gains, making it harder to see the massive returns of past cycles.
Investors should look for coins with staying power, such as Bitcoin and Ethereum, and major top-level coins, such as Solana and BNB. These are considered safer choices. However, even within categories like gaming, there are many poor quality projects, so caution is advised.
Bitcoin dominance is increasing, indicating a Bitcoin-centric market rather than an altcoin season. However, following the historical pattern, an alternative season could occur approximately eight months after the latest Bitcoin halving, which would occur around the end of the year.
The analyst talked about evaluating altcoins based on their performance against Bitcoin rather than the dollar. He pointed out that although altcoins are not at their lowest levels, they are still far from their highs, and many do not perform well in Bitcoin pairs.
He recommended looking at specific altcoins that have shown significant gains during periods when the market has collectively grown. For example, during a 70% market surge versus Bitcoin, altcoins like Cify and ChainGPT surged 430% and 490% respectively. This indicates that launchpads could have very good performance
He gave examples of strong performers, such as Solana, which rose 520% versus Bitcoin from June to December, and Superverse, which posted significant gains. These examples suggest that focusing on certain narratives, such as gaming ecosystems, could be useful.