The cryptocurrency market has been experiencing a significant downturn since August 17th, affecting various altcoins. While some experts believe that the market is oversaturated and undervalued, others see this as an opportunity for savvy investors to make strategic entries. Recent tweets from Santiment and Crypto Tony shed light on the current state of altcoins and what the future might hold.
What you'll learn 👉
Market Bleeding Stabilizes, But Recovery Elusive
According to Santiment, a leading analytics platform for cryptocurrency data, altcoins have at least “settled down on their bleeding.” This suggests that while the market is still far from bullish, the rapid declines witnessed in the past weeks have stabilized. However, the recovery attempts for most assets have been lackluster, indicating that the market is still in a precarious position.
Santiment’s model points out that among the altcoins, AUCTION, LINA, and SRM have become “particularly undervalued.” These could be the tokens to watch for investors looking to capitalize on the current market conditions. However, conducting thorough research and due diligence is essential before making any investment decisions.
Crypto Tony, a well-known figure in the crypto community, takes a slightly different stance. He believes that many altcoins are reaching their all-time lows and will continue to do so in the coming months. According to him, this could be the ideal time for investors to make their entries.
Doge2014 raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Trading on Classic Range Deviations
Crypto Tony suggests investors look for “classic range deviations to trade upon reclaims.” In simpler terms, this means buying low and selling high, a fundamental trading principle. Investors could potentially generate significant returns by carefully observing the market trends and acting upon these deviations.
While the market remains uncertain, both Santiment and Crypto Tony offer valuable insights for investors. Whether you’re looking to invest in undervalued assets or waiting for the perfect entry point, the key is to be cautious and strategic.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
