According to the experts, this time altcoins can also show significant growth. Simultaneously, the most profitable moment for purchasing has been missed, as the support level appears to have already been passed.
The maximum growth of altcoins begins after the BTC rally ends, and the digital asset price ceases to show active dynamics. With a high probability, after the confident passage of the Bitcoin mark of $40 thousand, we see impressive growth of altcoins.
To some analysts, Bitcoin and Ethereum are now the leaders of investments. Experts have named different coins that look promising in the current BTC local growth trend.
The growth of the world’s most popular cryptocurrency — Bitcoin — for the year amounted to 400%. Over the year the crypto market has shown growth: BTC is trading above $50 thousand (data as of August 26).
Ethereum has jumped by 800 % and is currently worth $1.25 thousand. Most of the top coins according to market cap showed similar dynamics. ETC has risen in price by 43% during this time. In the medium term, Ethereum can show good profitability. It is predicted that within a year, the largest altcoin by capitalization may grow to $8 thousand. However, according to analysts, there are still tokens on the market that you can earn money on.
Over the past year, Ehereum Classic has grown 10 times, from about $ 6 to $ 60. And, according to many experts, this is far from the limit. ETC now seems to be an undervalued asset. However, if the developers had not recently made efforts to improve it, it’s quite possible that this currency would finally die over time. It still has too many weaknesses, including a vulnerability to a 51% attack. However, now investing in it probably does not look too risky, on the contrary, there is a good chance to make money.
Here are a few facts about altcoins that look promising:
- In particular, Tron (TRX) has increased by more than 300% since January 2021.
- The Bitcoin Cash BCH – fork of Bitcoin has added 85% over the year.
- The EOS token is only for 15%.
Analytics also pointed out Chainlink, Polkadot, ICP Solana, and ATOM are among the most promising tokens now. In his opinion, these coins are primarily aimed at the openness and transparency of blockchains and the expansion of the capabilities of decentralized services.
Litecoin also looks promising, which made a strong move along with the market to the $140 mark. It is also predicted that shortly, Litecoin quotes may decline to the level of $132 as a result of a correction, but after that, there will be an increase to the nearest resistance zone, which is at the level of $145-148.
It is also worth paying attention to Cardano. The coin managed to stay above the support zone. This means that if the $1.37 level is broken, the quotes will start moving to the $1.58 mark, the expert added.
At the current levels, the DeFi sector is attractive for investment, since many of its tokens have fallen in price to minimum values, but at the same time, they have not lost the fundamental grounds for further appreciation and capitalization growth of the entire sector.
Experts also highlighted Uniswap, AAVE, LINK, and CAKE. These and less capitalized tokens can make a profit taking into account the “low base” effect, which is observed after the market collapse in May. In mid-May, the cost of Bitcoin per day decreased by 33% and reached the $30 thousand mark On July 27, the main cryptocurrency was trading at the level of $37.6 thousand.