A famous crypto strategist who goes by the name of, DonAlt, recently listed which altcoins are his top picks for a bear market bottom during a strategy session. However, during the video strategy session, he warned that altcoins are likely to go dangerously low from their current prices. Also, he plans to acquire some crypto assets when BTC regains its strength in the crypto market.
According to the video, DonAlt said,
I think Solana is a good bet. [Crypto] exchange coins are going to be a good bet. I could see Dogecoin, honestly, go up quite a bit. Not from here. As I said, I’m expecting lower on everything, but eventually, it finds its bottom. I don’t think it will take out the all-time high again. Those are some of the coins that I want to look at. It’s just the remnants of the past. The staff was super popular the last cycle, as in the one that we just went through. And then once those have run a little, you want to get out of them because there’s a good chance they’re not going to make new all-time highs against Bitcoin.”
Furthermore, the strategy session has another crypto strategist, Cred, present. Cred faces more insight into cryptocurrencies for exchange.
Also, he explained DonAlt’s choice of Dogecoin and Solana as his top altcoin picks.
We’re still seeing bids or bounces in previous cycle coins. I think it’s two things: familiarity and liquidity. That’s it. There’s nothing special about them, and it’s not like some narrative revival. It’s not a precursor to, ‘Oh look, this is proof that they’re being reaccumulated, and they’re going to do the thing next cycle.’ I think all of those are assumptions.
At the very least, the better, more probable explanations are simply familiarity and liquidity.
And I agree as far as exchange coins go, in early bull market narratives, they have familiarity and liquidity. But they are also straightforward stuff, and you have stuff you assume will survive or with elementary mechanics or narratives. If you think about exchanging coins, it doesn’t get any simpler than that.
The Crypto exchange coins presently leading the crypto market are FTX Token (FTT) and Binance’s BNB. BNB is the utility asset of the popular crypto exchange platform, Binance. While FTT is cryptocurrency derivatives exchange FTX’s native asset.
