Should you buy altcoins now?

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Over the past few weeks, the value of some altcoins has decreased against the background of the fact that bitcoin is updating local highs and approaching the renewal of historical highs, writes RBC Crypto.

For example, the price of Cardano fell by 4% in two weeks, while the price of Solana fell by 7% in the same period. The experts explained whether it is worth buying altcoins at the moment with the prospect of their growth in the near future.

Ready to Grow

At the moment, all signs indicate that the most capitalized altcoins are ready to rise in price, says lead analyst at 8848 Invest Viktor Pershikov. According to him, now the attention of market participants is riveted to bitcoin, so the demand for altcoins remains low. Alternative coins will start growing after Bitcoin stops growing, the analyst said.

Dmitry Machikhin, CEO of the investment fund Pressman Capital, agreed that altcoins will not start to rise in price while bitcoin continues to grow. In his opinion, this is due to the fact that the new money that comes to the crypto market goes to buy the first cryptocurrency.

What tokens to pay attention to

The current market situation is conducive to the acquisition of popular and scalable tokens, says Artem Deev, head of the analytical department at AMarkets. In his opinion, such altcoins include Polkadot and LUNA. These tokens may grow in the near future amid positive news about project updates, the analyst explained.

Altcoins have the greatest potential for growth, which have the largest trading volumes and performed well this spring, Machikhin claims. According to him, such assets include Binance Coin, Cardano, Polkadot and Ethereum.

At the moment, crypto investors have comfortable conditions for buying altcoins, Pershikov said. According to his forecast, in the near future, we can expect growth in capitalization from 1inch, XRP and Solana, since these are fundamentally strong projects that expect the opportunity to increase their market share.

“From the sectors, DeFi and GameFi continue to be relevant,” added Pershikov.

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