{"id":632881,"date":"2024-08-02T23:00:17","date_gmt":"2024-08-02T23:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632881"},"modified":"2024-08-02T14:40:19","modified_gmt":"2024-08-02T14:40:19","slug":"not-all-hope-is-lost-crypto-analyst-weighs-in-on-the-markets-performance","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/not-all-hope-is-lost-crypto-analyst-weighs-in-on-the-markets-performance\/","title":{"rendered":"\u2018Not All Hope Is Lost\u2019: Crypto Analyst Weighs In On The Market\u2019s Performance"},"content":{"rendered":"
As the crypto market faces another drop, a pessimistic sentiment surged again. Some investors seem to fear that altcoins won\u2019t take off this cycle and that they have lost their chance of profiting from the bull run. However, renowned analyst Altcoin Sherpa weighed in on the matter, suggesting that the market is set up to \u201cdo well\u201d in the coming months.<\/p>\n
A few months ago, Altcoin Sherpa addressed<\/a> the pessimistic sentiment brewing among some sectors of the crypto community. In an X post, the analyst asserted that Altcoins had to \u201ccool off\u201d for a few months before resuming the bull run. He also emphasized that this cycle differed from previous ones.<\/p>\n Related Reading: Solana Looks \u2018Ripe To Push Higher\u2019, Is A Mania-Like Rally To $600 Coming?<\/a><\/p>\n At the time, Sherpa highlighted that altcoins\u2019 performance didn\u2019t meet expectations during the first part of the bull run. Additionally, he suggested the market was heavily affected by the overabundance of projects and fragmented liquidity. This cycle, attention has been mostly captured by a few sectors like memecoins and AI tokens.<\/p>\n In a new X thread, Sherpa reaffirmed<\/a> his previous analysis. \u201cThis has definitely been a weird cycle so far; not similar at all to 2021 or 2017,\u201d the analyst said. He pointed out that crypto investors \u201caren\u2019t really up that much\u201d despite Bitcoin (BTC) nearing all-time high (ATH) prices.<\/p>\n Due to the singularities of this cycle, recommending \u201cDCA and just holding the projects that you like and holding forever\u201d is no longer an option for the analyst. The overabundance of tokens makes predicting the cycle winners \u201cvery hard,\u201d which makes \u201cpicking your shitcoins pretty important.\u201d<\/p>\n As a result, the analyst suggested that investors learn some trading concepts, study momentum, and understand market dynamics. To Sherpa, understanding the market is key, \u201cnow more than ever\u201d, so that investors can be prepared for \u201cwhen the market REALLY starts to move later this year.\u201d<\/p>\n But I think that slower times like these is where it’s important to learn and educate yourself for the coming moves.<\/p>\n<\/blockquote>\n Sherpa emphasized that the crypto market will resume its bullish performance<\/a> in the coming months. \u201cThe good thing is that BTC is still going to break ATH later this year and $ETH is also going to do well,\u201d read the post.<\/p>\n The analyst disagreed with those who believe that Altcoins will have an altseason reminiscent of previous cycles and that we are early in the bull market. To him, it is \u201cvery unlikely\u201d that all altcoins will go \u201cto full send like in 2021\u201d or even 2017.<\/p>\n Despite the cycle differences, he considers most cryptocurrencies might have a decent performance compared to current prices<\/a>. Moreover, he deemed that some altcoins will have remarkable rallies.<\/p>\n\n
Crypto Market Is Down But \u201cNot All Hope Is Lost\u201d<\/h2>\n