Over the past month, the total value of the cryptocurrency market has grown by an impressive 32.28%, rising from $2.5 trillion to around $3.36 trillion. This suggests that the market is in the midst of a bull run. Many cryptocurrencies, such as Bitcoin (30-day growth of 22.2%) and Ethereum (15.7%), have gained value as they benefit from positive market conditions. However, not all cryptocurrencies are the same. This raises an important question for investors: Which cryptocurrencies should be invested in and which ones should be avoided? Crypto expert VirtualBacon shares his strategy for maximizing returns by staying away from hype and focusing on innovative projects. Here are the details…
The crypto expert predicts a major growth in the market in the next 6 to 12 months, but he points out that this bull run will not be reflected equally in all cryptocurrencies. The expert notes that some cryptocurrencies have already reached their peak and will offer limited growth potential from now on. Based on historical data, he states that altcoins have outperformed BTC by at least 5 times, and estimates that mid-cap cryptos could grow by 6 times, and small-cap cryptos by 10 to 20 times. He expects only a 100% increase for Bitcoin and a growth of 300% to 400% for leading cryptos like Ethereum and Solana.
The analysis, which emphasizes that XRP has experienced a dramatic 5-fold increase from $ 0.50 to $ 2.50 in the last month, states that this growth is largely related to the FOMO effect and increased search interest. However, it states that the prices of projects such as XRP and Stellar are already close to all-time highs and argues that these projects do not have further growth potential. Instead, it suggests that Ethereum and Solana projects with solid use cases and high growth potential should be preferred. It also states that Algorand stands out as a low-value asset with a circulating supply of 80%, strong exchange support and solid fundamentals that offer higher upside potential.
VirtualBacon warns investors to avoid cryptocurrencies such as XRP, SUI, Bitcoin Cash, Litecoin, Ethereum Classic, SAND, MANA, AXS, ENJ, and GALA. He says that XRP and SUI are overvalued and overhyped, and that Metaverse projects are not making enough progress. He also notes that aging gaming tokens are no longer attractive.
Although he argues that the growth potential of the top 10 cryptocurrencies is more limited than others, VirtualBacon recommends investing in projects with solid use cases and strong fundamentals. While Ethereum and Solana stand out with their solid use cases and growth potential, Algorand also stands out as a project with an undervalued value and great upside potential. Avalanche’s scalability and Chainlink’s leadership in the DeFi ecosystem also offer attractive opportunities for investors. The expert, who is critical of popular Metaverse tokens, states that Wilder World stands out in this area. He is also cautious about game tokens, but thinks that some game tokens may have great potential.