{"id":603689,"date":"2024-04-17T14:00:32","date_gmt":"2024-04-17T14:00:32","guid":{"rendered":"https:\/\/www.wncen.com\/?p=603689"},"modified":"2024-06-11T07:18:06","modified_gmt":"2024-06-11T07:18:06","slug":"crypto-dont-buy-altcoins-yet","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/crypto-dont-buy-altcoins-yet\/","title":{"rendered":"Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet &#8211; Here\u2019s Why"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/crypto-analysts-predict-bull-market-in-early-2024\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Crypto analyst Crypto Banter<\/span><\/a><span style=\"font-weight: 400\"> has provided insights on whether or not it is the right time to buy altcoins. Specifically, the analyst had reservations about the idea that it was best to buy altcoins that showed quick recovery after a market decline like the one <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-crash-nah-its-a-buying-opportunity-ceo\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">experienced over the weekend<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>Not The Best Time To Buy Altcoins<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=PKNW9oMbXY0\" rel=\"nofollow\"><span style=\"font-weight: 400\">live video<\/span><\/a><span style=\"font-weight: 400\"> on his YouTube channel, Crypto Banter warned crypto investors against \u201csheepishly\u201d <\/span><a href=\"https:\/\/www.wncen.com\/altcoin\/crypto-expert-top-10-altcoins\/\"><span style=\"font-weight: 400\">buying altcoins<\/span><\/a><span style=\"font-weight: 400\">, especially crypto tokens that recovered quickly after the flush. He claimed that anyone who buys these tokens might fall into a \u201cclassic trap.\u201d To avoid this trap, he advised that it might be best not to buy these altcoins now despite their <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-on-chain-metric-predict-recovery-in-advance\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">impressive recovery<\/span><\/a><span style=\"font-weight: 400\"> so far.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/analysis\/xrp\/xrp-price-3000-rally-to-22\/\">XRP Price Set For 3,000% Rally To $22, Analyst Predicts<\/a><\/div>\n<p><span style=\"font-weight: 400\">Crypto Banter made these statements based on his belief that the bearish sentiment isn\u2019t over and that there will still be a lot of \u201ctensions\u201d in the market.\u00a0 Therefore, he noted that the best strategy to deploy in investing at this point is to use <\/span><a href=\"https:\/\/bitcoinist.com\/best-way-invest-in-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">dollar cost average (DCA)<\/span><\/a><span style=\"font-weight: 400\"> in altcoins that have shown strength while being wary of the ones with bad tokenomics.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He again warned against investing in altcoins that have recovered quickly, stating that this doesn\u2019t mean those crypto tokens have \u201crelative strength.\u201d He further elaborated that to gauge the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-weekly-relative-strength-more-powerful-than-record-2017-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">relative strength<\/span><\/a><span style=\"font-weight: 400\"> of a crypto token, one has to look at how much it dropped and how much it recovered after that.\u00a0<\/span><\/p>\n<h2>How To Make Your Buy List<\/h2>\n<p><span style=\"font-weight: 400\">Crypto Banter also provided a guide that <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-investors-hit-the-brakes-digital-asset-funds\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">crypto investors<\/span><\/a><span style=\"font-weight: 400\"> could follow when compiling an altcoin buy list. He suggested that the key was to choose between the altcoins that have recovered the quickest and are showing <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-suffers-sharp-decline\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">relative strength<\/span><\/a><span style=\"font-weight: 400\"> and the ones that are relatively still cheap.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He gave the example of <\/span><a href=\"https:\/\/www.wncen.com\/news\/ondo-finance-joins-blackrock-tokenized-fund-as-inflows-surpass-160m\/\"><span style=\"font-weight: 400\">Ondo (ONDO)<\/span><\/a><span style=\"font-weight: 400\"> as one crypto token that has shown relative strength. Although it experienced a drawdown of 47%, it has recovered and is now just about 6% down from its peak. <\/span><a href=\"https:\/\/bitcoinist.com\/toncoin-wif-dogecoin-shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Toncoin (TON)<\/span><\/a><span style=\"font-weight: 400\"> also falls under this category, as he showed how the crypto token dropped down over 30% recently but has already recovered and is just 9% from its peak.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-will-reach-650000\/\">Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason<\/a><\/div>\n<p><span style=\"font-weight: 400\">On the other hand, he highlighted <\/span><a href=\"https:\/\/bitcoinist.com\/runes-protocol-launch-as-bitcoin-halving-nears\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">RUNE<\/span><\/a><span style=\"font-weight: 400\"> as a \u201creally cheap\u201d crypto token, as it is down about 52% from its peak. He added that RUNE also happens to be a good recovery token. Crypto Banter also mentioned Arweave (AR) as another quality and cheap token, noting that it is about 41% down from its peak, meaning that one could get a good bargain from it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, he added crypto tokens that have been unaffected by the dips as the third category of tokens that crypto investors could add to their buy lists.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/7YiAESSA\/\" alt=\"Crypto total market cap from Tradingview.com (Altcoins)\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">Total market cap continues to drop | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">Crypto Total Market Cap on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Coinposters, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst Crypto Banter has provided insights on whether or not it is the right time to buy altcoins. Specifically, the analyst had reservations about the idea that it was best to buy altcoins that showed quick recovery after a market decline like the one experienced over the weekend. Not The Best Time To Buy Altcoins In a live video on his YouTube channel, Crypto Banter warned crypto investors against \u201csheepishly\u201d buying altcoins, especially crypto tokens that recovered quickly after the flush. He claimed that anyone who buys these tokens might fall into a \u201cclassic trap.\u201d To avoid this trap, he advised that it might be best not to buy these altcoins now despite their impressive recovery so far.\u00a0 Related Reading: XRP Price Set For 3,000% Rally To $22, Analyst Predicts Crypto Banter made these statements based on his belief that the bearish sentiment isn\u2019t over and that there will still be a lot of \u201ctensions\u201d in the market.\u00a0 Therefore, he noted that the best strategy to deploy in investing at this point is to use dollar cost average (DCA) in altcoins that have shown strength while being wary of the ones with bad tokenomics.\u00a0 He again warned against investing in altcoins that have recovered quickly, stating that this doesn\u2019t mean those crypto tokens have \u201crelative strength.\u201d He further elaborated that to gauge the relative strength of a crypto token, one has to look at how much it dropped and how much it recovered after that.\u00a0 How To Make Your Buy List Crypto Banter also provided a guide that crypto investors could follow when compiling an altcoin buy list. He suggested that the key was to choose between the altcoins that have recovered the quickest and are showing relative strength and the ones that are relatively still cheap.\u00a0 He gave the example of Ondo (ONDO) as one crypto token that has shown relative strength. Although it experienced a drawdown of 47%, it has recovered and is now just about 6% down from its peak. Toncoin (TON) also falls under this category, as he showed how the crypto token dropped down over 30% recently but has already recovered and is just 9% from its peak.\u00a0 Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason On the other hand, he highlighted RUNE as a \u201creally cheap\u201d crypto token, as it is down about 52% from its peak. He added that RUNE also happens to be a good recovery token. Crypto Banter also mentioned Arweave (AR) as another quality and cheap token, noting that it is about 41% down from its peak, meaning that one could get a good bargain from it.\u00a0 Meanwhile, he added crypto tokens that have been unaffected by the dips as the third category of tokens that crypto investors could add to their buy lists.\u00a0 Total market cap continues to drop | Source: Crypto Total Market Cap on Tradingview.com Featured image from Coinposters, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":603705,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[134,138,142,89606,167,6664,26263,14690],"class_list":["post-603689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-altcoin","tag-altcoin-news","tag-altcoins","tag-altcoins-news","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet - Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Crypto analyst Crypto Banter has provided insights on whether or not it is the right time to buy altcoins.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wncen.com\/news\/crypto-dont-buy-altcoins-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet - Here\u2019s Why\" \/>\n<meta property=\"og:description\" content=\"Crypto analyst Crypto Banter has provided insights on whether or not it is the right time to buy altcoins.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wncen.com\/news\/crypto-dont-buy-altcoins-yet\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-17T14:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:18:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/04\/Altcoins-crypto-Small.jpeg?fit=320%2C179\" \/>\n\t<meta property=\"og:image:width\" content=\"320\" \/>\n\t<meta property=\"og:image:height\" content=\"179\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Matherson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/MathersonScott\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Matherson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.wncen.com\/news\/crypto-dont-buy-altcoins-yet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.wncen.com\/news\/crypto-dont-buy-altcoins-yet\/\"},\"author\":{\"name\":\"Scott Matherson\",\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\"},\"headline\":\"Crypto Analyst Says Don\u2019t Buy Altcoins Just Yet &#8211; 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