A widely respected cryptocurrency strategist believes altcoins are poised for a rally of a magnitude never before seen in the current market cycle.
Pseudonymous analyst Altcoin Psycho told his 493,700 followers on social media platform
Traders who profited from Bitcoin (BTC) and meme tokens are keeping capital in circulation, according to analysts. trigger Another rally for the altcoin market.
“If you think this market is fun, wait until MEMCOIN and BTC liquidity shifts back to quality altcoins. The best gains of the cycle tend to occur in the second leg.
do not misunderstand. I think MEMCOIN will go higher and I’m finally enjoying it without losing money, but as someone who has been in the cryptocurrency industry since 2014, I can tell you from past experience that the second leg is the craziest thing. (In a good way).”
In particular, Altcoin Psycho is closely watching altcoins that no longer have tokens to unlock. proposal Since the entire supply is not in circulation, we do not see high selling pressure for these coins.
“Look for old cycle tokens that are fully unlocked and not yet executed. Stocks that show a strong weekly candle close today will run next.”
One altcoin that is firmly on traders’ radars is the native asset of the non-fungible token (NFT) marketplace LooksRare (LOOKS).
“–> NFTs are coming back to life.
–> Previously 2nd largest NFT marketplace
–> 100% unlocked
——–>Floor?”
As of this writing, LOOKS is trading at $0.124.
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