Which altcoins are worth buying after the crash?
Despite the Federal Reserve lowering key interest rates by 25 basis points as expected, Jerome Powell's comments had a very negative impact on the entire cryptocurrency market.
The central bank chairman warned that after three consecutive rate cuts by the end of 2024, the pace of cuts in 2025 may slow down, and he cautioned that although Donald Trump promised to explore how the country could include Bitcoin on its balance sheet, the U.S. "does not allow ownership of Bitcoin."
Riskier assets like cryptocurrencies reacted with immediate and severe price drops. For example, Bitcoin fell below $99,000 for the first time since December 11, after previously being over $105,000. Losses have widened to nearly $10 compared to the peak of over $108,000 on Tuesday afternoon.
However, altcoins were hit even harder. Many stocks plummeted by double digits from their respective highs to lows, including XRP, DOGE, AVAX, PEPE, LTC, and LINK.
Interestingly, Santiment weighed in on this adjustment and outlined that if the crash triggered by the Fed is an overreaction by the market, then the last four are potential beneficiaries.
"If this is indeed an overreaction, then the projects that have dropped the most are likely to become the ones worth taking the biggest risk to buy on the dip,"
