Which Altcoins You Should Add to Your Investment Portfolio: Expert’s Opinion
Altcoins are attracting more and more traders’ interest in the cryptocurrency market. But the experts disagree about the assets worth investing this month.
EXANTE analyst Viktor Argonov believes that the cryptocurrency market is currently not particularly stable, but bad news has less effect on traders. And the failures of bears in the market can provoke a new rally in crypto assets. Therefore, the acquisition of assets can now be very timely.
He thinks that in addition to BTC, the following cryptocurrencies are worth paying attention to:
Ether (ETH), in his opinion, is likely to become the largest PoS blockchain in the future. Due to the volatility, when the market recovers, ETH promises higher returns to investors than BTC.
Cardano (ADA). ADA is already at the top of the list of existing PoS blockchains. In May, he stubbornly resisted the collapse of the market, and now occupies the fifth line of the capitalization rating.
Dogecoin (DOGE). Perhaps the main hype of this cryptocurrency has already passed, but it is too early to write it off. And although now DOGE costs only $0.25, the coin added 40% over the week. However, it’s better to invest in DOGE a relatively small amount, which in case of failure is not so critical to lose.
Ripple (XRP). It is worth investing in XRP with caution. Due to the ongoing proceedings, her legal prospects are questionable.
FxPro lead analyst Alexander Kuptsikevich told IHODL that now the dynamics of altcoins will increasingly depend on what is happening with Bitcoin, which needs to be closely monitored.
If we are talking about long-term investment, then it is better to invest in top altcoins, including Ether, Cardano, De-Fi-coins. Despite the high prices, long-term plans can still be profitable.
If we are talking about short-term investment, the risks here multiply. And in the case of investing in small coins or new projects, then channels with buy / sell signals are suitable. The profits can be significant, but the risks are enormous.
StormGain platform analyst Martin Petkov noted that the decline in the cryptocurrency market affected NFT and DeFi. The volume of coins blocked in decentralized finance decreased from 88 billion to 48 billion dollars.
However, DeFi has an advantage over spot trading, such as generating passive income (staking). This can attract new players looking for a stable income. Recently, a number of projects to reduce costs have switched from Ethereum to the Polygon protocol (MATIC), among them: Aave, Kyber Network and SushiSwap.
The recovery in the DeFi market and the transition of a number of projects to sidechain will lead to the growth of the MATIC coin.
Tatiana Maksimenko, the official representative of the Garantex cryptocurrency exchange, believes that it is worth investing in Bitcoin for the first time. While you won’t be able to make a fortune in the short term, it is the most reliable cryptocurrency and the least susceptible to complete depreciation.
Although Bitcoin is now under pressure from bearish sentiment and has dropped in price, this is the best time to enter an asset, which, according to all forecasts, will grow. She also believes that it is worth paying attention to Polkadot, Cardano, ETH, BNB.
One of the founders of the LAZM data center, Roman Nekrasov, is sure that it is best to buy crypto assets during a recession. Therefore, it is worth paying attention to Bitcoin. He advises using an asset price averaging strategy – investing in bitcoins the same amount every week, regardless of the exchange rate.
In addition to Bitcoin, he advises including such coins as Chainlink, Solana and ETH in the investment portfolio.
The founder of investonomic.ru, Andrey Khodosok, believes that despite the significant drawdown, the market today looks quite promising for buying crypto assets.
First, you should take a closer look at Ether (ETH). At the moment, the coin is trading at $2200, which means that it has dropped by almost 50% from its maximum.
In the medium term, a price reversal or even an increase to the level of $2800 per coin is possible. It also makes sense to take a closer look at currencies such as EOS, TRON and NEO.
Oleg Chebotarev, a journalist and crypto investor, taking into account the general situation in the cryptocurrency market, suggested also focusing on Bitcoin in attempts to predict market sentiments.
He advised to grow his portfolio with the Ethereum cryptocurrency. The current price of $2,124 is undoubtedly high for a mass purchase, but for a long-term build-up of its own investment portfolio, this is quite acceptable.
TradingView analyst Igor Kuchma advises taking a closer look at Ether, but not discarding trending coins. He believes that it is best to invest your days in assets that will bring a stable income in the long term. But there is also an opportunity to rise on the trend wave.