Renowned economist and crypto trader Alex Kruger urges crypto investors to focus on specific altcoin projects like Ethereum (ETH) rivals when the market is in a bearish trend. In this article, let’s take a look at Kruger’s current analysis and expectations for January.
Alex Kruger details his analysis of altcoins
cryptocoin.com Alex Kruger, whose analysis we share with you, tells his 107,500 Twitter followers that Ethereum rivals such as Cosmos (ATOM) and Fantom (FTM) are some of the altcoin projects that may attract attention in January. Fantom is a scalable, smart-contract-enabled Blockchain that is valued more than 13,000% over a one-year period. Cosmos is an ecosystem of parallel Blockchains that can communicate in a decentralized way. The economist also says January sentiment will depend on upcoming employment and inflation statistics:
Focus on a few altcoin projects like ATOM and FTM. Their performance for January will depend on the data. If we see strong payrolls on Friday and higher-than-expected inflation on Wednesday, markets may panic.
- Kruger adds that while he doesn’t expect “bullish January”, he will “revisit” the market when the funding rate is “less negative.”
The funding rate is a periodic payment that crypto investors 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 says that a complete divergence in crypto markets is unlikely. Divergences occur when the yields of Bitcoin (BTC) and other associated cryptocurrencies stop moving in line with expectations. However, Kruger thinks that a complete separation is not possible:
Temporary divergence is seen only when BTC moves sideways, or sometimes for purchases in a sharp decline. The correlations between cryptocurrencies are very high and will remain so for a long time. The idea of full parsing is a mirage that the wealthy like to entertain in their spare time.
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