Outside Source
Crypto analyst Michaël van de Poppe says altcoin season is “now.” However, according to the MN Trading Consultancy CEO and founder, there are only three months left to make entries at value.
The value-based investing and trading analyst with nearly 700K followers on X, wrote in a recent post, “Pretty clear that 3-8 months before the #Bitcoin halving is the best time to invest into #Altcoins.”
“That period is now and it looks like we’ve got ourselves into a short-term top on the Bitcoin dominance. Time to swap to $ETH,” van de Poppe added.
Pretty clear that 3-8 months before the #Bitcoin halving is the best time to invest into #Altcoins.
That period is now and it looks like we’ve got ourselves into a short-term top on the Bitcoin dominance.
Time to swap to $ETH. pic.twitter.com/HNeDhwLb3a
— Michaël van de Poppe (@CryptoMichNL) December 9, 2023
But there are hundreds, even thousands, of altcoins to choose from. Taking into account the unique non-fungible tokens space, there are millions of NFTs for investors to shop and trade as well.
So what altcoin is best to buy in 2024 while there is time left before Bitcoin halves to make a value play at a time in the market cycle that has historically* preceded big gains?
BitMEX Co-Founder Arthur Hayes Says Solana
According to BitMEX founder Arthur Hayes in a Feb. 1 post on X with a screenshot of the Solana price careening down the chart to $94 from a high of $102 in January, “I think it might be time to get back on the train fam. Maybe after a few US banks bite the dust this weekend.”
I think it might be time to get back on the train fam. Maybe after a few US banks bite the dust this weekend. pic.twitter.com/SxCwK3BVYB
— Arthur Hayes (@CryptoHayes) February 1, 2024
Hayes’ comment about U.S. banks may have been a reference to woes faced by many regional banks in a big year for commercial property loans to renew while commercial borrowers are low on cash.
Mark Cuban: Polygon and Injective
At the end of January, AMA interviewer Dan Tom asked Shark Tanks investor and Dallas Mavericks owner Mark Cuban, “fav crypto project outside of Bitcoin & eth?”
“Polygon and Injective, I’m an investor in both. DYOR,” Cuban answered.
Polygon (MATIC) added 15 million new users in 2023, almost exactly as many as Ethereum. But don’t call them competitors. Polygon is a cryptocurrency used to scale Ethereum.
Injective (INJ) blew up in 2023, hitting an all-time high in December.
Bitcoin Talk Forum: Ether
Ethereum received 44% of the votes in a recent poll on the Bitcoin Talk Forum, “What’s your favorite altcoin and why?”
“For investing, it’s Ethereum, and I’m still holding a bit of it. Meanwhile, for transfers, I’m mostly using TRX for USDT because it’s cheap and faster than the USDT(ERC20),” said Living Free.
USA Today’s Top Altcoin Pick: Ether
In November, USA Today’s Investing Blueprint column ranked the paper’s top 10 altcoin picks for 2024, with Ether at number one.
“The cryptocurrency market is volatile. Venturing outside the relative safety of Bitcoin can be treacherous. But the top-performing altcoins often outperform bitcoin and generate huge returns for investors during crypto bull markets.,” the report warned.
*Historical results are not a guarantee of future performance.
Disclaimer: None of the above is financial advice. The content is solely for entertainment purposes. Investing in cryptocurrencies carries the risk of capital loss. Readers are strongly advised to consult with a financial expert before making any decision that may or may not be based on the content above.
This article first appeared at CryptoPotato
