We look at the altcoin strategies of master analysts. But before that, let’s take a look at the developments. You’ve heard of it by now. The SEC sued Binance. The SEC sued Coinbase. The 2 major funds took tough decisions on Friday in response. Almost all coins except Bitcoin or Ethereum lost 20% or more in one day. What will happen next? Analyst Stu Lustman highlighted the key points. Let’s look at the details.
Altcoin strategies
It’s probably been a stressful few days for you. Believe me, it’s the same for us. But let’s get rid of our emotions for a moment and use our logic. 1 in 5 Americans currently use crypto in some way. So that means too many people. 20% of a country of 320 million means 64 million people. But cryptocurrencies are global and transnational. India alone has almost double that with 115 million. China has almost the same number of users as the US. But Bitcoin and the altcoin group are illegal there. 5.5%, or 66 million, of 1.2 billion people in China use cryptocurrencies. The Chinese Government is also one of the largest Bitcoin holders in the world.
Now don’t get me wrong. For now, the most investment infrastructure and human capital for cryptocurrency is in the US. And if Operation SEC succeeds in cutting off the ramps to cryptocurrency, that will of course hurt the industry. But this is not a death sentence as people think. Other highly populated countries with close to 20% adoption rates in their countries include Nigeria, Indonesia, Malaysia and Brazil. In the meantime, we should not forget Turkey. Potential hubs for cryptocurrencies are emerging outside the US, as well as in Dubai, Singapore, London and Malta.
The basics are the same
Let’s take a look at this list. There are many altcoins you know. The list is as follows:
- MATIC
- ATOM
- ISLAND
- XRP
- CHZ
- BNB
- SAN.
Now I will pose this question to you. What is fundamentally different about these coins now compared to a week ago? We will be looking at the 4 largest altcoin groups on this list. Three of them are altcoins MATIC, ATOM and Cardano. 0% different from a week ago. If you like its fundamentals, roadmap for the future, liquidity in the token or other factors, nothing is different for you.
The 4th special case we’re currently reviewing is XRP. XRP seems to be in better shape than a week ago. More and more evidence and opinions are coming in that they will win their case against the SEC. So if you liked Polygon and Cardano on the way up, why not like it even more on the way down? They are currently 27% and 23% off compared to a week ago. I’m going on a bargain hunt. What projects are you watching now that prices have dropped so fast?
Bitcoin and ETH major strengths
The SEC wouldn’t attack it if it didn’t see value in Bitcoin and altcoin groups. There is already a parallel crypto economy. Its base currency is Bitcoin. There are payment coins in ETH and stablecoins. People don’t need US banks and SWIFT as often as they used to. This situation does not change. Accordingly, BTC is not a security anyway. It was not harmed like adults, as it was considered a commodity.
Ethereum also seems to be on its way to becoming a commodity. At least that’s what the market thinks. Instead of falling 20% or more, BTC and ETH fell by 2.9% and 6.4% respectively. Markets know these two are not going anywhere. If they have to force the altcoin groups to sell, they will sell for one of these 2 safer tokens.
Altcoin trading volume
Bitcoin is clearly the safest token for investment in the entire industry. The only token with worldwide clarity. Like my Polygon and Cardano examples above, it can negotiate if the price returns to its level a week ago. You can also earn 23% quickly. And depending on how long that takes, this could be a nice return on investment for you. The other is the same advice we gave throughout the entire bear market. That’s finding your favorite projects that are currently on sale. It is also worth buying to keep it long term. On the other hand, liquidity can be an issue in crypto.
cryptocoin.com For example, let’s look at MATIC. MATIC is liquid. Yesterday, there was a trading volume of $629 million. Only one of the top 10 exchanges by volume is the US stock market. Coinbase made $15.3 million in 7th place. Even if this disappeared, the top 3 trading pairs on Binance and OKX made 10x this amount. So MATIC will be fine. But check this for other coins you want to buy. Don’t count DEXs because DEX buyers can be anywhere. But check the CEX volume as I did here on CoinGecko. You will find that the impact of Coinbase and Binance.US on this token will be minimal, if any.
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