In a recent update on his outlook for popular altcoins, crypto analyst DonAlt warns that altcoins may underperform in the near future, with a few exceptions such as Bitcoin Cash. With over 50,400 YouTube subscribers, DonAlt shares his insights on the market trends and potential investment opportunities.
While altcoins are expected to underperform as a whole, DonAlt notes that Bitcoin Cash has been performing well in recent days. From June 20th to the time of writing, the price of Bitcoin Cash has surged from around $105 to $276, representing a staggering 162% increase. This makes Bitcoin Cash an outlier in the altcoin market and suggests that it may continue to outperform in the near term.
However, DonAlt expresses caution when it comes to Litecoin. He believes that the peer-to-peer payments network may be heading for a market correction. At the time of DonAlt’s prediction, Litecoin was retesting the $95 level. Since then, Litecoin has reclaimed the $103 level, showing a 7.2% increase in the last 24 hours. Despite this recent uptick, DonAlt remains skeptical about the future performance of Litecoin.
One altcoin that DonAlt sees as a potential buying opportunity is Solana. He states that if Solana were to abruptly collapse to $10, he would consider it a good buy. Currently trading at $29.16, Solana has seen a 33.5% increase in the last 24 hours. This suggests that Solana has strong momentum and potential for further growth.
Related Post
In his analysis, DonAlt asserts that while altcoins may generally underperform in the near term, there will always be exceptions and opportunities for savvy investors. It is important to note that altcoin markets can be highly volatile and unpredictable. Investors should exercise caution and perform their own due diligence before making any investment decisions.
In conclusion, DonAlt’s latest outlook on altcoins suggests that they may underperform in the near future. However, there are exceptions like Bitcoin Cash that have shown strong performance recently. Despite the current uptick in Litecoin, DonAlt remains skeptical and warns of a potential market correction. On the other hand, Solana presents a potential buying opportunity if it were to experience a sudden collapse. As always, it is crucial for investors to stay informed, exercise caution, and conduct their own research when navigating the altcoin market.
