Ethereum

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/3-reasons-why-altcoins-are-the-best-buy-right-now-comparing-to-bitcoin/" rel="noopener noreferrer nofollow">3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As the crypto market goes through a correction phase and Bitcoin’s price stays around $68,000, investors are rethinking their strategies. With Bitcoin’s slow movement, the focus is shifting to altcoins, which could lead to the beginning of the next bull run.<br><br>In the meantime, prominent crypto trader Ash Crypto highlighted three undeniable reasons why altcoins are the best buy in the current market conditions.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">𝟑 𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐀𝐥𝐭𝐬 𝐀𝐫𝐞 𝐁𝐞𝐬𝐭 𝐁𝐮𝐲 𝐑𝐢𝐠𝐡𝐭 𝐍𝐨𝐰<br>&nbsp;<br>1) Alt/BTC chart&nbsp;<br>&nbsp;<br>– Altcoins, excluding the Top 10, are at their lowest level in one year.&nbsp;<br>&nbsp;<br>– This is a sign of capitulation, which often leads to a big reversal.<br>&nbsp;<br>2) ETH ETF Trading&nbsp;<br>&nbsp;<br>– ETH ETF trading… <a href="https://t.co/rqpeyRaNxC" rel="noopener noreferrer nofollow">pic.twitter.com/rqpeyRaNxC</a></p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1800214422859759847?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-key-indicators-favoring-altcoin">Key Indicators Favoring Altcoin</h2>
<h3 class="wp-block-heading" id="h-1-nbsp-alt-btc-chart-indicators">1.&nbsp; Alt/BTC Chart Indicators</h3>
<p>Ash Crypto highlights that altcoins, excluding the top 10, are currently at their lowest level in a year compared to Bitcoin (BTC). This significant drop is viewed as a sign of investor sell-off, where investors sell off their holdings, leading to a market bottom.</p>
<p>Historically, such low levels have often come before major market reversals, making this a <a href="https://coinpedia.org/news/can-these-high-potential-altcoins-make-you-rich-in-just-60-days-analyst-says-yes/" rel="noopener noreferrer nofollow">potentially good time to buy</a> altcoins before a possible surge.</p>
<h3 class="wp-block-heading" id="h-2-upcoming-eth-etf-trading">2. Upcoming ETH ETF Trading</h3>
<p>Another critical factor driving Ash Crypto’s bullish outlook on altcoins is the upcoming <a href="https://coinpedia.org/news/ethereum-etf-poised-to-steal-20-of-bitcoin-etfs-money-flow-heres-why/" rel="noopener noreferrer nofollow">launch of Ethereum (ETH) ETF</a> trading. With trading set to begin in a few weeks, Ethereum is expected to lead the market. This move is expected to shift investor focus and funds from Bitcoin to Ethereum and other altcoins.</p>
<h3 class="wp-block-heading" id="h-3-altcoins-current-valuation">3. Altcoins’ Current Valuation</h3>
<p>Despite Bitcoin recently reaching a new all-time high (ATH), 95% of large-cap altcoins are still down by 30% to 70% from their ATHs. This indicates that many altcoins are <a href="https://coinpedia.org/news/prominent-bitcoin-investor-predict-shiba-inu-set-to-skyrocket-1105-whats-driving-this-surge/" rel="noopener noreferrer nofollow">still in oversold territory</a>, a condition historically associated with good buying opportunities.</p>
<h2 class="wp-block-heading" id="h-shifting-market-sentiment">Shifting Market Sentiment</h2>
<p>The ongoing situation in the crypto market has many investors thinking about diversifying their portfolios. As the altcoin market shows promising signs of a possible bull run, driven by factors such as upcoming ETH ETFs and the shifting interest from Bitcoin to altcoins.</p>

3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin

Table of Contents

CoinPedia News

Other articles published on Jun 11, 2024

4 Altcoins To Buy On 11 June For High Returns This Month

Solana Foundation Ends Support for Validators Involved in Sandwich Attacks

Breakout Crypto 2024: BlockDAG Sidesteps Polygon and Floki Inu Price Action with Highly Potent Ec...

Tether (USDT) Announces $1 Billion Investment

Why Bitcoin’s Big Breakout Is Just Around The Corner, According To These Experts

Moody’s Drops Bombshell On Crypto Industry Amid High Interest Rate Cuts

Join our free newsletter for daily crypto updates!