Ethereum

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/3-reasons-why-altcoins-are-the-best-buy-right-now-comparing-to-bitcoin/" rel="noopener noreferrer nofollow">3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As the crypto market goes through a correction phase and Bitcoin’s price stays around $68,000, investors are rethinking their strategies. With Bitcoin’s slow movement, the focus is shifting to altcoins, which could lead to the beginning of the next bull run.<br><br>In the meantime, prominent crypto trader Ash Crypto highlighted three undeniable reasons why altcoins are the best buy in the current market conditions.</p>
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   <p lang="en" dir="ltr">𝟑 𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐀𝐥𝐭𝐬 𝐀𝐫𝐞 𝐁𝐞𝐬𝐭 𝐁𝐮𝐲 𝐑𝐢𝐠𝐡𝐭 𝐍𝐨𝐰<br>&nbsp;<br>1) Alt/BTC chart&nbsp;<br>&nbsp;<br>– Altcoins, excluding the Top 10, are at their lowest level in one year.&nbsp;<br>&nbsp;<br>– This is a sign of capitulation, which often leads to a big reversal.<br>&nbsp;<br>2) ETH ETF Trading&nbsp;<br>&nbsp;<br>– ETH ETF trading… <a href="https://t.co/rqpeyRaNxC" rel="noopener noreferrer nofollow">pic.twitter.com/rqpeyRaNxC</a></p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1800214422859759847?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
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<h2 class="wp-block-heading" id="h-key-indicators-favoring-altcoin">Key Indicators Favoring Altcoin</h2>
<h3 class="wp-block-heading" id="h-1-nbsp-alt-btc-chart-indicators">1.&nbsp; Alt/BTC Chart Indicators</h3>
<p>Ash Crypto highlights that altcoins, excluding the top 10, are currently at their lowest level in a year compared to Bitcoin (BTC). This significant drop is viewed as a sign of investor sell-off, where investors sell off their holdings, leading to a market bottom.</p>
<p>Historically, such low levels have often come before major market reversals, making this a <a href="https://coinpedia.org/news/can-these-high-potential-altcoins-make-you-rich-in-just-60-days-analyst-says-yes/" rel="noopener noreferrer nofollow">potentially good time to buy</a> altcoins before a possible surge.</p>
<h3 class="wp-block-heading" id="h-2-upcoming-eth-etf-trading">2. Upcoming ETH ETF Trading</h3>
<p>Another critical factor driving Ash Crypto’s bullish outlook on altcoins is the upcoming <a href="https://coinpedia.org/news/ethereum-etf-poised-to-steal-20-of-bitcoin-etfs-money-flow-heres-why/" rel="noopener noreferrer nofollow">launch of Ethereum (ETH) ETF</a> trading. With trading set to begin in a few weeks, Ethereum is expected to lead the market. This move is expected to shift investor focus and funds from Bitcoin to Ethereum and other altcoins.</p>
<h3 class="wp-block-heading" id="h-3-altcoins-current-valuation">3. Altcoins’ Current Valuation</h3>
<p>Despite Bitcoin recently reaching a new all-time high (ATH), 95% of large-cap altcoins are still down by 30% to 70% from their ATHs. This indicates that many altcoins are <a href="https://coinpedia.org/news/prominent-bitcoin-investor-predict-shiba-inu-set-to-skyrocket-1105-whats-driving-this-surge/" rel="noopener noreferrer nofollow">still in oversold territory</a>, a condition historically associated with good buying opportunities.</p>
<h2 class="wp-block-heading" id="h-shifting-market-sentiment">Shifting Market Sentiment</h2>
<p>The ongoing situation in the crypto market has many investors thinking about diversifying their portfolios. As the altcoin market shows promising signs of a possible bull run, driven by factors such as upcoming ETH ETFs and the shifting interest from Bitcoin to altcoins.</p>

3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin

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