A intently adopted crypto analyst thinks market individuals will search shelter in a gaggle of altcoins following final week’s marketwide dip.
Pseudonymous analyst Altcoin Psycho tells his 501,200 followers on the social media platform X that he sees buyers rotating funds into crypto property with at the least $1 billion market caps.
In accordance with the analyst, the market meltdown previously few days is making buyers suppose twice about accumulating speculative altcoins.
“For my part, this wipeout ends in a flight to high quality from right here for altcoins. As soon as the market can maintain a bid, we’ll probably see mid/high-cap alts run first.”
The analyst additionally names three crypto subsectors that he thinks might be a game-changer for the digital asset trade.
“I feel most of [artificial intelligence-focused crypto projects are] vaporware, like 99%, however I feel the 1% will change this trade way over another vertical apart from RWAs (tokenized real-world property) and stablecoins.”
He additionally reiterates that synthetic intelligence (AI) stays his high play for the 2024 bull market.
“Wrote in my 2024 predictions that AI is my highest conviction wager. Shocked that it’s now a contrarian take, solely makes me extra bullish although.”
Earlier this month, Altcoin Psycho mentioned that AI crypto initiatives are nonetheless undervalued compared to the market cap of two of the most important memecoins.
“Whole (crypto) AI vertical is ~$40 billion market cap. Doge alone is $27 billion. Shiba one other ~$15 billion. Feels bizarre saying this, however AI tokens are nonetheless undervalued.”
At time of writing, the highest AI cash within the crypto house have a collective market cap of $20.57 billion, in line with CoinGecko.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Worth Motion
Comply with us on Twitter, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney
