Strong Buy Indication for Altcoins besides Bitcoin – Only ordinary Blogger who love Pizza and Cola

Fahmi Almuttaqin, an analyst at crypto exchange Reku, has highlighted a “strong buy” indication for altcoins. He also discussed various factors influencing the recent extreme fluctuations in the crypto market, particularly the economic situation in the United States.

Strong Buy Indication for Altcoins

The “strong buy” signal for altcoins, or cryptocurrencies other than Bitcoin, is based on data from the Alts Buy Signal indicator on Dune, compiled by Cryptokoryo.

“Several indicators, like the Alts Buy Signal compiled by Cryptokoryo on the Dune platform, currently indicate a ‘strong buy’ situation for altcoins at a strength level never seen before. This suggests that there is still significant potential in alternative cryptocurrencies besides Bitcoin in the current conditions,” Fahmi stated in an email on Wednesday (3/7/2024).

Upon investigation, the indicator is described as a systematic way to invest in crypto, designed to optimize investments over the long-term, more than one year. Data is presented in graph form with specific signal variables.

“If the line is below 0.4, it means it’s in the accumulation zone with a buy signal at 0.1. Conversely, if it’s above 0.6, it’s in the distribution zone, with a sell signal at 0.9,” according to the indicator’s page.

Currently, the line for altcoins is well below 0.1, which hasn’t happened since the significant dip in early 2021.

Higher Risks and Promising Technologies

Fahmi also cautioned that altcoins tend to carry higher risks compared to Bitcoin, due to Bitcoin’s larger market capitalization and liquidity, as well as its greater popularity.

“However, many altcoins now have promising technological potential, which, if they reach a certain scale, could offer far greater benefits than what Bitcoin can currently provide. The early growth period of the crypto industry, like other industries, offers many interesting innovations that could shape new ways of working in the future,” he added.

Recommendations for Investors

Despite the potential, Reku advises investors to make careful and measured decisions.

“Investors can save regularly and monitor market conditions regularly. They can also diversify into other altcoins, as Reku routinely adds new cryptos every week. Additionally, investors can more easily track their investment summaries through the Portfolio Analysis feature available on Reku, enabling them to monitor investment performance periodically and coin values in real-time without manual calculations,” Fahmi recommended.

Key Points to Note

Strong Buy Signal: Indicators on Dune suggest a strong buy situation for altcoins.
Higher Risk: Altcoins carry higher risks compared to Bitcoin.
Promising Technologies: Many altcoins have technological potential that could surpass Bitcoin’s benefits.
Investor Caution: Reku advises investors to make informed decisions and diversify their portfolios.

In summary, while the current market conditions present significant opportunities for altcoin investments, it is essential for investors to approach these opportunities with a strategic and informed mindset.

Strong Buy Indication for Altcoins

Higher Risks and Promising Technologies

Recommendations for Investors

Key Points to Note

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