As the horizon brightens with anticipation for another altcoin season, investors are looking for the next cryptocurrency.
With a diverse range of tokens gaining traction, the market is ripe with opportunities for those looking to explore the depths of blockchain technology and its numerous applications.
45 days until altcoin season
According to renowned analyst Rekt Fencer, altcoin season is just around the corner. This optimistic outlook suggests that now is the time to choose the right micro-cryptocurrency to aim for the 100x returns many people dream of.
For this reason, it is important to understand the typical bull market sequence. South African entrepreneur Ran Neuner explained that altcoin season traditionally begins with a surge in the price of Bitcoin. This is followed by high-value cryptocurrencies such as Ethereum, Solana, and Avalanche.
“(Bitcoin) is attacking all-time highs with tremendous momentum. Now the reality is that as soon as the all-time high is breached (again), what could happen today is like the guns are fired on the altcoins and the race is on,” Neuner said.
Neuner pointed out that since Bitcoin has surpassed its previous high, altcoins could also reach new highs in about 70 days. It is worth noting that altcoins often experience a correction period 22 days after Bitcoin’s high.
Read more: What are the best altcoins to invest in in April 2024?
The cryptocurrency market is now 14 days into this correction phase and the market is starting to recover. This pattern suggests that if the cycle continues historically, altcoin season could begin in about 45 days.
“That means an altcoin would have to rise 50% to see how far (altcoins) have to go between now and their all-time highs. Do you understand how violent the 50% movement in the next 45 days will be? It melts your face,” Neuner emphasized.
Meanwhile, Rekt Fencer emphasized that low-cap coins and meme coins have higher risks but can yield the greatest profits. He said it is common to achieve profits of 2x to 10x, especially in the early stages of the altcoin season.
Cryptocurrencies to watch out for
To navigate altcoin season, investors are advised to build a diverse cryptocurrency portfolio, stick to their investment narrative, and exercise patience.
Rekt Fencer shared a list of six hidden altcoins that could have significant potential. At the forefront is Polyhedra Network (ZK), a project focused on Web3 interoperability, scalability, and privacy through zero-knowledge proof technology. With a market cap of $286.3 million and a current price of $3.14, Polyhedra presents an interesting entry point.
A quirky meme coin that can’t be overlooked, Wolf Wif Ballz (BALLZ) continues to make a compelling presence throughout the Solana ecosystem. Combining humor and investability, BALLZ, with a price of $0.05 and a market capitalization of $50.2 million, exemplifies the unpredictable nature of meme coins.
PORTAL appears in the GameFi space, providing a cross-chain gaming ecosystem that connects different blockchain networks. With staking rewards of $2.07 and a market capitalization of $306.6 million, PORTAL is creating a new narrative for gamers.
Read more: 11 Best Altcoin Exchanges for Cryptocurrency Trading in March 2024
Meanwhile, the Boson Protocol (BOSON) enables the tokenization, transfer, and trading of physical goods with NFTs. With a price of $0.68 and a market capitalization of $83.1 million, BOSON aims to revolutionize perceptions of value and ownership in the digital age.
Lastly, the cryptocurrency artificial intelligence market is led by pioneers such as Volumint (VMINT) and Monai (MONAI). These projects leverage AI to power trading activities and integrate LLM with blockchain protocols.
As they prepare for the upcoming altcoin season, investors should conduct thorough research, consider portfolio diversification, and remain aware of the risks associated with cryptocurrency investments. With the right strategy and a little patience, the next few months could be transformative for savvy cryptocurrency investors.
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