Waiting for the Market to Calm Down, the Analyst is Chasing Opportunities in These Altcoins

Altcoins that are small in terms of market value can draw a good chart in the future.

According to the crypto analyst, altcoins with a market cap below $10 billion may present “some opportunities” for investors.

Waiting for the market to calm down

“Large-cap crypto assets have remained stable since peaking in March this year,” said Jamie Coutts, RealVision’s chief cryptocurrency analyst.

According to CoinGecko data, Bitcoin (BTC) broke its own price record by rising to $73,737 on March 14. Bitcoin lost 9% in value compared to that period and is trading at $66,938.

“If what we are experiencing now is a typical mid-cycle correction, which I believe is likely, then some opportunities in small and mid-cap [cryptocurrencies] can be expected once the market calms down,” Coutts said.

They underperformed

According to Bitformance data, the chart, which gives equal weight to cryptocurrencies regardless of their market value, showed a decline of more than 30% against the total value of the cryptocurrency market in the last three months.

The decline of this chart indicates that small-cap altcoins have a weaker chart against large-cap cryptocurrencies.

Classifying cryptocurrencies according to the fields they are connected to, Coutts said that in the last three months there has been a decrease of 43.28% in infrastructure, 44.13% in metaverse and 38.33% in applications.