Expert Picks 5 Altcoins To Watch, Declaring Arrival Of The Altseason After Three Years
24 Octobre 2024 - 3:00AM
NEWSBTC
As the cryptocurrency market emerges from a prolonged seven-month
consolidation phase, following a parabolic uptrend for Bitcoin and
various altcoins in the first quarter of 2024, crypto analyst
OxNobler has boldly declared that today marks the start of the next
significant altseason. Analyst Predicts Major Price Movements Ahead
For Altcoins In a recent post on the social media platform X
(formerly Twitter), OxNobler shared insights on the Altcoin
Indicator, which has just gone parabolic for the first time in
three years. The analyst emphasized the cyclical nature of
market phases, driven by capital inflows that shift from Bitcoin
into larger-cap tokens before eventually reaching lower-cap
altcoins, suggesting a growing liquidity movement that could fuel
significant price surges across the altcoin landscape. Related
Reading: XRP Price Could Face Last Major Crash, Warns Crypto
Analyst Identifying key catalysts for the upcoming liquidity
inflows, OxNobler pointed to several factors: the upcoming US
election, where both candidates express support for Bitcoin,
anticipated Federal Reserve rate cuts, the potential lifting of the
cryptocurrency ban in China, and the expected payout of $16 billion
from FTX in Q4 2024 to Q1 2025. By analyzing historical price
movements and market cycles, OxNobler believes traders can position
themselves for substantial gains in the months ahead. OxNobler has
highlighted several altcoins that he believes are primed for growth
in this new market phase. Key Players In Upcoming Market
Shift Realio Network (RIO): This blockchain-based platform focuses
on the issuance, investment, and lifecycle management of digital
securities and crypto assets. With a current trading price of $0.83
and a market cap of just $4 million, OxNobler believes that RIO is
poised for significant upside, especially given the increasing
interest in Real World Assets (RWA). Major asset managers like
BlackRock are already investing in this sector, potentially driving
demand for altcoins such as RIO. Zero Labs (DEAI): This token
supports a decentralized artificial intelligence ecosystem focused
on data governance. Currently priced at $0.55, DEAI has a market
cap of $50 million, making it an attractive option as AI continues
to gain traction, specially over the past year behind the buzz
surrounding companies like Nvidia. Related Reading: ApeCoin Faces
Strong Resistance As Bears Seize Control At $1.755 SUI: Notable for
its recent performance, SUI has surged 28% over the past month and
an impressive 372% year-to-date, currently trading at $1.98 with a
market cap exceeding $5 billion, positioning it well for the
expected altseason. Render Network (RENDER): This decentralized GPU
rendering network connects users needing GPU computing power with
those willing to rent out their resources. Priced at $5 with a
market cap of $2.6 billion, the analyst suggests that RENDER is
well-positioned to benefit from the increasing demand for GPU
computing in various technological applications. TokenFi (TOKEN):
Aiming to simplify the crypto and asset tokenization process,
TokenFi aspires to become the leading platform in this space,
according to the analyst. Currently, TOKEN trades at $0.047 with a
market cap of $47 million. Featured image from DALL-E, chart from
TradingView.com
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