Top crypto analyst Miles Deutscher has revealed the top 7 cryptos he will be buying in July. He revealed this in a YouTube video and also made some explanations that support his choices.
The analyst started by considering the historical performance of Bitcoin in June, which has been b=negative with a return of -6.96%. However, July has been historically better with a performance of 7.39%.
However, Q3 has been the weakest quarter so far with an average return of 5.57% while Q1 and Q4 have been the best-performing quarters. These suggest that the market may not expect so much from Bitcoin and many other cryptos around this time.
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Key Factors Influencing the Market
Factors that could influence the market include Ethereum ETF launch, potential political changes, and FTX’s $16 billion distribution.
However, the more general market sentiment shows that it is in a phase of apathy, suggesting potential for future buying interest.
Bitcoin is currently in a range between 59k and 73.5k with strong support around 60k, and buyers constantly stepping in during dips.
With all these in mind, the analyst shares his top picks for July:
Altcoin Focus for July
- Ethereum (ETH): The price is currently pivoting off a key level. The Eth ETF listing is expected soon, which could be a price catalyst.
- Pendle (PENDLE): The analyst has already entered a buy at $4 due to oversold conditions and strong fundamentals. Interested in re-entry at $3.20 if further dips occur.
- Ondo (ONDO): He is watching for long opportunities around $1 and potential scalp trades based on maintaining the current uptrend.
- Pepe (PEPE): The top analyst sights major support at $0.00001080 with invalidation at $0.00000940. Seen as a leading meme coin with strong future growth prospects.
- Solana (SOL): He is interested in accumulating during major pullbacks, viewing SOL as a major portfolio holding.
- Everclear (EVER): This is based on its focus on solving liquidity fragmentation in the crypto market, considered a long-term accumulation.
Niche Market Narratives
- AI Coins:
Bit Tensor (BTT): Leading AI coin, potential for strong future growth.
Other AI Plays: Prime (PRIME), and similar projects, are viewed as having significant potential.
The analyst will continue to buy at critical supports and sell at resistance. He also advocates for buying during periods of bearish sentiment and taking profits during bullish peaks.
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