85% Of Altcoins In Opportunity Zone, Santiment Reveals

The on-chain analytics firm Santiment has revealed that over 85% of all altcoins in the sector are currently in the historical opportunity zone. MVRV Would Suggest Most Altcoins Are Ready For A Bounce In a new post on X, Santiment discussed how the altcoin market looks based on their MVRV ratio model. The Market Value [...]

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Santiment Reveals Best Altcoins Currently In Opportunity Zone

The on-chain analytics firm Santiment has revealed the altcoins that have recently surged into the mid-term “opportunity zone.” These Altcoins May Be More Likely To See Rebounds In a new post on X, Santiment has discussed what the various altcoins in the market are looking like from the perspective of the MVRV. The “Market Value To Realized Value” (MVRV) refers to an indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap. The realized cap here is a capitalization model for BTC that measures the total sum of capital that the investors have used to purchase their coins. As such, the MVRV tells us about how the value that the investors are holding right now (the market cap) compares against this initial investment. Related Reading: Bitcoin Plunges Under $63,000, Heres Where Next On-Chain Support Is Historically, the more profits the investors have held (that is, the higher the market cap has been compared to the realized cap), the more likely tops have been to occur. This is naturally because investors become more likely to give in to the allure of profit-taking the higher their gains get. On the other hand, cryptocurrencies have been probable to see rebounds when holders’ returns have dropped into the negative territory. In these conditions, there aren’t many profit-takers left, so selling pressure begins to run out. Based on these facts, Santiment has come up with an “Opportunity & Danger Zone Model” that uses the MVRV’s divergence from the norm on various timeframes to determine if an asset is providing a potential window for selling or buying right now. Below is the chart shared by the on-chain analytics firm that reveals what this model is saying for altcoins around the sector: Looks like some of the coins are approaching the opportunity zone | Source: Santiment on X From the graph, it’s visible that a lot of coins are still inside the overbought territory, but several altcoins have managed to sneak into the mid-term opportunity zone following the recent market downturn led by Bitcoin’s plunge. “This zone gets breached when an asset’s 30-day, 90-day, and 365-day average wallet returns are combining to be in negative territory,” explains Santiment. It should be noted, though, that while mid-term returns are red for these coins, they are still not yet inside the buy zone proper. “In a zero sum game like crypto, projects with minimal returns compared to the rest of the sector have a higher probability of a more efficient rebound for those who are willing to #buythedip on projects traders are in the most pain on,” notes the analytics firm. Related Reading: Bitcoin Has Undergone This Bearish Structure Change, Analyst Explains According to Santiment, some of the best altcoin candidates who are inside the mid-term opportunity zone include Lido DAO (LDO), Synthetix (SNX), Storj (STORJ), and OMG Network (OMG). LDO Price Lido DAO has had a bad time recently as its price has gone down more than 31% over the past week. With these red returns, it’s no wonder that the coin is becoming underbought on the MVRV. The price of the altcoin appears to have plunged down in the last few days | Source: LDOUSD on TradingView Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

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The XRP Price is About to Go Wild! (Biggest Conspiracy Theory in Crypto) | BitBoy Crypto Interview

Will the XRP price go up in 2022? Is Ripple losing against SEC? Today we are joined by Ben of BitBoy Crypto to talk bitcoin, cryptocurrency, altcoins, & more! Subscribe to BitBoy: https://www.youtube.com/channel/UCjemQfjaXAzA-95RKoy9n_g All persons in this video are not financial advisors. The conversations are only opinions. Investing in cryptocurrency is very risky. DYOR. Follow […]

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Crypto Analyst Unveils Ultimate Altcoin Buying Guide

Michaël van de Poppe, a renowned crypto analyst and the CEO of MN Trading Consultancy, recently took to X (formerly Twitter) to share his insights on a perennial challenge in the cryptocurrency market: how to strategically enter the altcoin market without falling prey to the pitfalls of FOMO and market hype. His guide, dubbed “The Ultimate Strategy to Step into Altcoins,” aims to arm investors with the knowledge to make informed decisions. Crypto Guide: When To Buy Altcoins Van de Poppe opens his discussion by framing the issue as a “Million Dollar question,” emphasizing the difficulty many face when trying to navigate the highly volatile altcoin market. “How do you position yourself into an Altcoin running upwards? How do you avoid chasing FOMO and hype?” he queries, setting the stage for a deep dive into the complexities of market timing and investment strategies. Related Reading: Crypto Platform Which Predicted Bitcoin To Reach $50,000 Has Released A New Target He starkly highlights a common misstep among investors, pointing out, “Between 80-90% of buyers who purchase an asset do that in the last 10% of the price movements.” This statistic underlines the herd mentality prevalent in the investment world, where many are drawn to an asset only after witnessing significant gains, often too late to realize similar returns. A crucial piece of advice from van de Poppe centers around the deceptive nature of market hype, especially as it manifests on social media platforms. “Once you start to see the hype increase on social media, it means that you’re probably still relatively late to the party,” he states, cautioning investors against making decisions based on the heightened visibility of an asset, which often signals it is nearing its peak. Van de Poppe argues for a contrarian approach to investing, suggesting that the greatest opportunities lie in moments of widespread doubt or negativity. He offers a compelling comparison, “After the collapse of FTX, Bitcoin’s price was swimming around a value of $15,500 per Bitcoin. Related Reading: Bitcoin Bulls On The Charge: Crypto Platform Forecasts $63K Surge By March During this period, almost no one was interested in getting into a position.” He contrasts this with the period leading up to the ETF approval when Bitcoin was trading at significantly higher prices, to illustrate the heightened risks associated with entering the market during periods of optimism. One of the most emphatic pieces of advice from van de Poppe is to avoid the temptation of chasing rallies. “The risks are just not worth it to chase a rally. It’s always better to wait for a correction,” he advises. He elaborates on this point by recommending that investors wait for an altcoin to correct by 25-60% from its recent peak before considering an entry. “This means buyers are likely to take over and the risk/reward is more positive,” van de Poppe explains, highlighting the strategic benefit of patience and timing in maximizing investment returns. Another option is to examine the total market capitalization of the altcoins, either with Ethereum (“TOTAL2”) or without ETH (“TOTAL3”) on TradingView.com. The two metrics can give an indication of what stage the market is currently in – a Bitcoin dominance phase or an emerging altcoin season. At press time, TOTAL3 stood at $546 billion after surpassing the crucial resistance at the 0.236 Fibonacci retracement level. Featured image from iStock, chart from TradingView.com

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