Crypto strategists who have formed close contacts with altcoins have now revealed their top altcoin picks in preparation for the bottom of a bear market.
DonAlt, a pseudonymous trader, one of those strategists warned about altcoins saying they could drop between 50% and 70% of the prices they currently hold.
When Bitcoin (BTC) started showing signs of strength, the trader also focused on several crypto assets.
Donalt Solana is a good bet according to the strategist, and exchange coins is also considered a good bet. and quoted as:
“I could see Dogecoin, honestly, go up quite a bit. Not from here. Like I said, I’m hoping for a low on everything but eventually it finds its bottom. I don’t think it will again. going to reach an all-time high.
Those are some coins I’d like to see. It’s basically just a relic of the past. The stuff that was super popular in the last cycle, as we just went through. And then once they move up a bit, you just want to get out of them because there is a good chance that they are not going to make new all-time highs against bitcoin. ,
Another crypto strategist named Cred continues briefly in the same video and elaborates on the reasoning behind Donalt’s altcoin picks of Solana (SOL) and Dogecoin (DOGE) along with his in-depth comments on crypto exchange coins.
The strategist gave his statement as follows:
“The reason why we’re still seeing bids or at least bounce in the coins of the last cycle, I really think it’s two things: familiarity and liquidity. That’s it. There’s nothing special about them. It’s somehow The legend of the resurrection isn’t like the resurrection. It’s not the foregoing, ‘Oh look, this is proof that they’re regrouping, and they’re going to work in the next cycle.’ I think these are all assumptions.
At least, the better, more likely explanations are just familiarity and fluidity. And I agree that the initial bull market narrative, as far as exchange coins go, they really like to be familiar. They like liquidity. But they are also very simple things… you have stuff that you believe is going to survive or with a really simple mechanism or narrative. If you think about the exchange of coins, nothing can be easier than this.”
The major crypto exchange listed on the market is BNB, the largest crypto exchange and utility token of the global digital asset Binance, the FTX token, and the native asset of the FTT crypto derivatives exchange FTX.