The post Top Altcoins for the Upcoming Bull Cycle: Santiment’s Recommendations appeared first on Coinpedia Fintech News
As Bitcoin (BTC) ‘s price teased $67k on Friday, the altcoin industry, led by Ethereum (ETH), signaled bullish sentiment. Most altcoins have been approaching the apex of a multi-week consolidation that began earlier this year. Furthermore, on-chain data shows that more institutional investors have been aggressively accumulating in recent years in preparation for the euphoric phase of the crypto bull cycle.
Additionally, most altcoins have retested the bullish breakout from the macro falling trend.
With the inevitable reversal of Bitcoin dominance, paying attention to the altcoin industry is prudent to maximize profits.
$Btc #Btc Dominance Consolidating In This Range Now Expecting Downside Breakout Incase Of Successful Breakout #Alts Can Give Massive Returns In Midterm pic.twitter.com/vXmJtmkXqt
— World Of Charts (@WorldOfCharts1) July 24, 2024
Top Altcoins to Buy for Maximum Profits
According to market intelligence platform Santiment, crypto investors should closely monitor different assets’ average trading returns.
“If you believe markets are about to surge, history says that buying into assets that traders have experienced the most pain in have a greater probability of netting high returns for you,” Santiment noted.
Having critically analyzed the market data, Santiment believes Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.
Meanwhile, Santiment highlighted that Toncoin (TON), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk for maximizing profits in the anticipated altseason.
Market Picture
Increased crypto volatility is expected to continue in the coming days as traders prepare for the FOMC statements next week. Additionally, August could quickly turn bearish for the entire crypto industry, as historical data alludes.
Nonetheless, the crypto industry will mostly tune bullish in the fourth quarter, fueled by the U.S. elections and anticipated interest rate cuts.
