A 25-year-old Wall Street veteran explains what his buying strategy should be in the crypto market and shares 5 altcoin projects he follows. We have prepared the shares of the famous analyst for Kriptokoin.com readers.
“Casting falling knives is not a good strategy”
Marc LoPresti, co-chief executive of The Strategic Funds, said in an interview, “You usually have to look for the bottom, but catching falling knives is often not a good strategy. ” says. Marc LoPresti states that instead of trying to time the exact bottom buying opportunities, they are trying to implement more macro themes that we know will persist throughout the year.
Global crypto market cap slumped to $1.8 trillion amid concerns that scammers are taking advantage of the situation and Russia is using crypto to evade sanctions. Despite short-term headwinds, Marc LoPresti remains bullish on Bitcoin and Ethereum in the long-term. The famous analyst makes the following assessment:
We think that there will be a very significant increase in both Bitcoin and Ethereum prices by the end of the year. Presumably, Ethereum will continue to gain ground against Bitcoin in terms of market dominance.
Altcoin projects followed by the analyst
Amid the market volatility, Bitcoin and Ethereum were mostly traded in line with risk assets, especially technology stocks. Bitcoin and S&P 500’s 60-day correlation coefficient reached 0.6. A level of 1.0 means that assets mirror each other’s movements, according to Bloomberg. Meanwhile, altcoins fell more in each of the Bitcoin dips. In Marc LoPresti’s view, Bitcoin will diverge from altcoins as the rest of the crypto market continues to evolve. The analyst explains his view as follows:
The divergence is still at an early stage. Due to the progress in the divergence of crypto assets, the market is starting to attribute more value to the use cases and outputs of some altcoins.
Marc LoPresti monitors protocols that play a key role in contributing to the growth of decentralized finance (DeFi), Non Fungible Tokens (NFT), and the metaverse in particular. In this context, the altcoin projects on the analyst’s list are Ethereum (ETH), Polkadot (DOT), Solana (SOL), Avalanche (AVAX) and Cardano (ADA).
54859
