Top Altcoin Picks for Maximum Profit This Bull Run: Santiment
Elena R26 Jul 20241 min read
As Bitcoin (BTC) neared the $67k mark on Friday, the altcoin market, led by Ethereum (ETH), showed strong bullish signals. Many altcoins are reaching the peak of a multi-week consolidation phase that started earlier this year. On-chain data also indicates that institutional investors have been actively buying up crypto assets, gearing up for the next phase of the bull market.
Moreover, several altcoins have recently retested the bullish breakout from the broader downtrend. With Bitcoin dominance expected to decline, focusing on the altcoin market could be a smart move for maximizing returns.
Expert Insights: What to Watch For
According to market intelligence platform Santiment, investors should keep an eye on the average trading returns of different assets.
Having critically analyzed the market data, Santiment believes Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.
Meanwhile, Santiment highlighted that Toncoin (TON), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk for maximizing profits in the anticipated altseason.
Market Outlook: Volatility Ahead?
With the Federal Open Market Committee (FOMC) statements expected next week, increased volatility in the crypto market is likely. Additionally, historical data suggests that August might bring a bearish trend for the industry.
Despite this, the crypto market is expected to turn bullish again in the fourth quarter, driven by the U.S. elections and anticipated interest rate cuts.
Also Read: Kennedy Jr. Proposes $615 Billion Bitcoin Investment Post Election Win
Invest wisely. The future of crypto is bright.
