In the world of Bitcoin and altcoins, analysts’ comments regarding cryptocurrencies are carefully watched by their followers. In particular, expectations are formed regarding the price movements of the cryptocurrencies that are under surveillance. Now an analyst has something to say about this. Let’s get into the details.
Bitcoin’s resilience and potential ETF approval
Important statements recently came from Miles Deutscher, a leading cryptocurrency analyst with more than 350,000 followers. Accordingly, he announced the list of noteworthy altcoin projects to be watched closely next week.
Deutscher starts by highlighting Bitcoin (BTC). Accordingly, it indicates that it is showing signs of flexibility by recovering from the critical support level of $ 25,000. In particular, he points out that Bitcoin has witnessed an increase in open interest. Deutscher suggests that this price movement may be linked to the possibility of an ETF (Exchange Traded Fund) approval. He also advises investors to follow Bitcoin’s movements carefully.
Altcoin projects in the shadow of Bitcoin
Moving on to altcoin projects, Deutscher talks about Stacks (STX), Bitcoin Cash (BCH) and eCash (XEC). He acknowledges that these altcoins could benefit if Bitcoin’s dominance in the market continues to grow. However, he warns that these assets also have a higher level of risk.
https://twitter.com/milesdeutscher/status/1703788960160567535
Arbitrum, a Layer 2 scaling solution for the altcoin Ethereum, is another coin on Deutscher’s radar. He notes that there was a significant amount of exchange transfers involving the ARB token in the previous week. Deutscher thinks that the recently introduced 50 million ARB incentive program could have a positive impact on the cryptocurrency’s performance.
Chainlink (LINK) and accumulation model
Altcoin LINK is on Deutscher’s list. On the other hand, the analyst emphasizes the accumulation pattern of his chart. Deutscher believes LINK is showing signs of relative strength and is therefore an asset worth watching closely.
Deutscher completes its list with Radiant Capital’s RDNT token. It is worth noting that the token’s mainnet launch is planned to happen in just two weeks. Additionally, Deutscher predicts that the altcoin RDNT will benefit from the distribution of 50 million ARB within the Arbitrum ecosystem.
Importance of altcoin list
Investors and traders in the cryptocurrency market are advised to be careful and do thorough research before considering any investment in these altcoins. The cryptocurrency market is known for its volatility. Moreover, potential gains are often accompanied by significant risks.
When we look at Kriptokoin.com, the projects included by the analyst have attracted attention recently. Cryptocurrencies where expectations are high, especially in a bull season. Let’s see if the analyst’s views will be accurate.
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