What to buy during crypto summer in July?
Historically, Bitcoin ($BTC) has historically performed well in July, with an average return of +7.39%, compared to June’s average return of -6.96% over the past 5 years.
Despite July's historical performance, cryptocurrency analyst Miles Deutscher pointed out in his latest video that the cyclical nature of the market indicates that August and September may be weaker, and he called on investors to seize the opportunity in July. And be prepared in advance for subsequent fluctuations.
“The third quarter is typically the weakest quarter, with average returns of just 5.87%,” Deutscher highlighted the seasonal trends in Bitcoin performance. He mentioned that the first and fourth quarters are the strongest quarters in history. Understanding these patterns can help investors prepare for upcoming market fluctuations.
Just buy "these 6 coins"
As for what coins to buy during the crypto summer in July? In this episode, Miles Deutscher conducts a comprehensive analysis of the current cryptocurrency market, introducing what he believes may be the best performing markets in July 2024 based on narrative strength, catalyst potential, and current price levels. 6 altcoins.
Ethereum ($ETH)
Miles Deutscher mentioned that Ethereum ($ETH) has better liquidity and relatively low volatility in this round of the market. In addition, the upcoming Ethereum spot ETF is a potential key catalyst that may push the price upward.
Pendle（$PENDLE）
Miles Deutscher believes Pendle is a strong company that has participated in narratives such as real world assets (RWA) and liquidity staking during this market cycle, and despite the price drop during the token unlock period, he believes it is a good buy Enter opportunities.
Pepper（$PEPE）
In terms of meme coins, Miles Deutscher is most optimistic about Pepe ($PEPE) because the currency has strong meme value and community cohesion, and has the potential for substantial price appreciation during the bull market.
Solana（$SOL）
Among the mainstream currencies, Solana ($SOL), the biggest competitor of Ethereum ($ETH), is also one of the currencies that Miles Deutscher is optimistic about. He pointed out that despite the liquidation of FTX, Solana ($SOL)
It still has strong performance and currently plays a very important role in the meme ecosystem. For this reason, he will choose Solana as one of his main investments.
Prime（$PRIME）
Prime ($PRIME) has long been involved in the fields of artificial intelligence and gaming. In view of the AI+GameFi narrative in this round of the market, Miles Deutscher believes that Prime ($PRIME) has the appeal and value to hold for a long time.
Bittensor（$TAO）
Finally, Miles Deutscher is also optimistic about the dominance of Bittensor ($TAO) in the field of artificial intelligence (AI), saying that $TAO may be one of the currencies that is easiest to achieve returns of more than 400% in this round of the market.
During market fluctuations, Miles Deutscher also emphasized the importance of maintaining discipline. He recommended continuing to absorb chips during sharp market sell-offs and taking profits during sharp rebounds. This strategy can help investors achieve stable returns in the long term.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
