Exciting Insights from Crypto Analyst, Crypto Banter! Wondering when to buy altcoins? Find out what Crypto Banter has to say about it. Is it the right move to buy altcoins that recovered quickly after a recent market decline like the one over the weekend?
When Not to Buy Altcoins?
In a thrilling live video session, Crypto Banter cautioned against hasty decisions in buying altcoins that rebounded effortlessly. Maestro cautioned investors not to fall into a “classic trap” by buying these tokens despite their impressive recovery so far.
Crypto Banter’s wisdom stems from his belief that we’re not out of the bearish woods yet – tensions will linger. The strategy he champions is consistent with dollar cost averaging in robust altcoins while steering clear of weaker ones.
He reiterated the risks of investing in hastily recovered altcoins, asserting that rapid recovery doesn’t always equate to “relative strength.” To truly assess a token’s strength, it’s important to analyze its drop and recovery post-drop.
Curating Your Altcoin Buy List
Crypto Banter also shared a nifty guide for crypto enthusiasts compiling their altcoin purchase list. Key? Opt for swiftly recovering altcoins exhibiting relative strength or those still undervalued.
Take, for instance, the case of Ondo (ONDO) – showing remarkable resilience, and Toncoin (TON) on a similar trajectory. On the flip side, RUNE and Arweave (AR) present as bargain opportunities.
Adding tokens resilient to market dips is another sound strategy according to Banter. A holistic approach to your altcoin portfolio could be the recipe for success.
Total market cap continues to drop | Source: Crypto Total Market Cap on Tradingview.com
Featured image from Coinposters, chart from Tradingview.com
