Renowned cryptocurrency analyst Michael van de Poppe has identified a list of the top 10 altcoins that offer significant buying opportunities in a declining market environment.
What happened: In a X (formerly known as Twitter) on Wednesday, van de Poppe highlighted current market conditions, noting that altcoin market capitalization has undergone a correction but still has the potential for further gains. He added that, while minimal, “altcoins are not falling relative to Bitcoin, it’s just a correction in Bitcoin.”
Van de Poppe also highlighted that Bitcoin’s dominance is peaking and that many altcoins have been severely undervalued in their Bitcoin valuations. He stressed that the real money was made in these times, not when everything is skyrocketing.
He cited Chainlink and Celestia as the top two among others as altcoins offer huge opportunities for investors:
- Chain link LINK/USD: The valuation is currently at a cyclical low and, with a decline of 40% from its peak, offers a buying opportunity.
- Celestia TIA/USD: A relatively new project that could be a huge tailwind for this cycle, down 61% from its peak, opening up room for more buying.
Read also: Invest in Altcoins now or wait? What the experts say may surprise you
Van De Poppe highlighted other promising altcoins:
- Decision ARB/USD: I experienced a massive unlock in the previous month which led to selling pressure. Strong Layer 2 rollup system which could be one of the biggest gains.
- Polka dot DOT/USD: Valuations are still at cyclical lows. Polkadot 2.0 has been released, indicating strong progressive growth for the ecosystem.
- Cosmos ATOM/USD: Still in downward correction, making it the most undervalued project, but still has “a potential bullish divergence impact on the weekly time horizon.”
DYDX DYDX/USD, WooNetwork WOO/USD, To be (CRYPTO SIX), Skale network AND Covalent CQT/USD they are among other altcoins that are expected to generate profits for investors.
What’s next: In conclusion, the trader said: “You don’t need to have the smallest gems to have a high return. Time the markets well and you will do well.”
The influence of meme coins and Bitcoin as an institutional asset class are topics that are expected to be explored in depth at Benzinga’s upcoming Future of Digital Assets event on November 19.
Read next: As Bitcoin Consolidates, Altcoins Skyrocket After “Very Healthy” Correction, Leading Crypto Trader Says
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