The correlation of altcoin prices with Bitcoin continued to decline. Meanwhile, experts predicted an increase in investors’ altcoin holdings. Investors evaluated the risks involved in cryptocurrency transactions. The declining correlation between Bitcoin and altcoins seems to make alternative cryptocurrencies a lucrative asset class for investors in 2022. cryptocoin.com We convey the comments of analysts…
Investors can increase their altcoin holdings in 2022
The crypto bloodbath in March 2020 triggered gradual purges. Prices of most cryptocurrencies fell as their correlations with Bitcoin and stocks fell. In 2021, Ethereum outperformed 17 of the top hedge funds. Altcoin gains are attracting investors to the asset class. “TheMoonCarl,” a crypto analyst, pointed out that interest in altcoins is growing.
Experts believe that the price trend of Ethereum (ETH) killer Cardano (ADA) shows no signs of a bear market. Gert van Lagen, a crypto analyst and trader, expects the uptrend to continue since the bull market started in ADA price. On the other hand, “BitQueenBR”, another crypto analyst, stated that Phantom (FTM) is currently one of the strongest altcoins in the market. The phantom price broke out during the bullish consolidation phase and tried to test the resistance. The analyst watches the Phantom price as he considers it an opportunity to test the all-time high.
Finally, FXStreet analysts noted that Axie Infinity (AXS), a play-to-earn (play-to-earn) platform, has upside potential and shows an upward trend.
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