The recent crypto flash crash, which occurred just over a week ago, saw retail investors lagging in their response compared to professional traders who capitalized on the dip. This has raised questions about why retail investors were hesitant – was it due to fear, uncertainty or a lack of preparation?
On Black Monday, the crash was primarily driven by leveraged liquidations targeting short-term traders. Despite the severe drop, the crypto market recovered swiftly. The pressing question now is: what’s next? Analyst Altcoin Buzz highlighted several low-risk altcoin investments for the next 90 days:
- Bitcoin: With growing speculation that other countries might follow El Salvador’s lead in adopting Bitcoin, demand could rise. Recent market dips saw active participation from institutional investors, while retail investors were less engaged. This trend suggests that Bitcoin might benefit from increased global liquidity.
- Super (SuperRare): Grayscale announcement of a new fund could elevate SuperRare’s profile. Although it has a limited circulating supply (just 25% of the total), it remains a promising pick.
- Akash Network (AKT): Despite a challenging few months and a notable price drop, Akash Network continues to be a solid project. Its fundamentals remain strong, making it a potential buy at a discounted price.
Read more: Majority of Institutional Investors Retain or Increase Bitcoin ETF Holdings in Q2
Discover Crypto’s host also provided insights into altcoins with significant growth potential:
- Avalanche (AVAX): Avalanche is garnering support from major players, including Galaxy Digital’s $26 million fund, signaling confidence in its technology and growth potential. With a market cap currently lower than some peers, Avalanche has room to grow, with a target of $80 billion this cycle.
- Polkadot (DOT): Known for its innovative technology and scalability, Polkadot’s current low price relative to its all-time high presents a potential buying opportunity. With a market cap much lower than its potential, Polkadot could rise to between $40 billion and $80 billion this cycle, translating to a price target of around $27 per DOT.
- Solana (SOL): Solana rapid transactions and low fees have made waves, and recent developments suggest it could reach new heights. With a current market cap of around $68 billion, a target of $200 billion is plausible within this cycle. At its current price of $141, this would imply a price of approximately $429 per SOL.
Cre: coinpedia.
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
