April 3, 2024 7:13 PM | 2 min read |
Renowned cryptocurrency analyst Michaël van de Poppe has identified a list of top 10 altcoins that offer significant buying opportunities amidst a market dip.
Market conditions: In a recent thread on X (formerly known as Twitter), van de Poppe discussed the current state of the market. He noted that while the altcoin market capitalization has seen a correction, there is still potential for more gains. He also pointed out that altcoins are not dropping against Bitcoin, indicating that it is a correction primarily affecting Bitcoin. Additionally, he mentioned that real profits are often made during market dips, rather than when everything is soaring.
Van de Poppe emphasized that many altcoins are heavily undervalued in their Bitcoin valuations, as Bitcoin dominance is currently at its peak. He believes that this presents a great opportunity for investors to capitalize on potential gains.
Top picks: Among the top 10 altcoins identified by van de Poppe, he highlighted Chainlink and Celestia as the top two with the most potential for investors. He noted that Chainlink’s valuation is currently at a cycle low and has dropped by 40% from its peak, making it a prime buying opportunity. Meanwhile, Celestia is a relatively new project that has the potential to be a massive gainer in this market cycle, as it is down 61% from its peak.
Other promising altcoins: In addition to Chainlink and Celestia, van de Poppe also pointed to several other altcoins that he believes have the potential to generate profits for investors. These include Arbitrum, Polkadot, Cosmos, DYDX, WooNetwork, Sei, Skale Network, and Covalent.
Expert insights: Van de Poppe concluded by stating that investors do not need to invest in the smallest or most obscure altcoins to see high returns. Timing the market well is key, and investors can still see success by investing in well-known and established altcoins.
Upcoming event: The influence of meme coins and Bitcoin as an institutional asset class will be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on November 19.
Disclaimer: Benzinga does not provide investment advice. All rights reserved.
