Economist and trader Alex Kruger warns crypto investors while the market is in a bearish trend. Ethereum (ETH) competitors urged to focus on specific crypto assets such as
The economist, who shared his views on his Twitter account with more than 100,000 followers, Cosmos (ATOM) and Phantom (FTM) He stated that he thinks it is time for Ethereum alternative crypto assets, such as Ethereum, to attract attention.
FTM, the native token of Fantom, has managed to rise more than 13,000% in the last 365 days. It stands out as a blockchain network with phantom smart contracts. Cosmos stands out as an ecosystem of parallel blockchains that can communicate in a decentralized way.
The trader also stated that he thinks the January sentiment will depend on the upcoming employment and inflation statistics.
“I recommend focusing on a few names like ATOM and FTM. What will happen in January depends on the statistics announced, so I will not insist on the ‘bullish view’. If we see strong payrolls on Friday and higher-than-expected inflation on Wednesday, markets will panic.”
While Kruger doesn’t “forecast upside for January,” he said he would “revisit” when the funding rate is “less negative.”
The funding rate is a periodic payment that crypto traders make between each other to ensure that spot prices are as close as possible to the perpetual futures contract price. A funding ratio above zero indicates an upward trend, while a funding ratio below zero indicates a downward trend.
The economist also thinks that a complete divergence in crypto markets is unlikely. Divergences occur when returns on Bitcoin (BTC) and other associated crypto assets stop moving in line with expectations.
“We can only see temporary divergence when BTC is flat or sometimes when an asset is bought hard on the decline. Intra-crypto correlations are very high and will remain so for a long time to come. The whole idea of segregation is a mirage that the “fat rich” like to entertain in their spare time.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.