3 Cryptocurrencies Surge After Rate Cut, Worth Buying and Holding for 6 Months
With the significant rebound in accumulation activities of digital assets such as Bitcoin, JasmyCoin and Stacks, institutional investors are keenly seizing market opportunities and actively adjusting strategies to seize the opportunity to buy at low prices.
Although the cryptocurrency market has experienced several weeks of correction recently, with leading Bitcoin once falling to the $54,000 mark, the collective weakness of altcoins seems to be brewing a new turn. Subtle signs of stabilization in the market may signal that an investment window has quietly opened for select cryptocurrencies, indicating potential long-term growth momentum for at least the next six months.
Bitcoin
Against the backdrop of continued reduction in Bitcoin ETF holdings, institutional investors’ 1.016 million BTC increase in holdings is particularly eye-catching. CryptoQuant’s quarterly report noted that Bitcoin ETFs experienced a significant influx of institutional funds in the first quarter of this year, marking an acceleration of market accumulation. On Wednesday, the Bitcoin ETF market received a positive signal, with total net inflows exceeding US$147 million. Although the cumulative net inflows dropped to US$15.42 billion due to early selling pressure, this recovery trend cannot be ignored.
If you want to know more about cryptocurrency investment logic, please visit my homepage! 🌟
JASMY
Affected by rumors of Bitcoin selling on the German government exchange, the value of JasmyCoin has been under pressure recently. As the bankruptcy and liquidation process of the Mt. Gox exchange advances, selling pressure has further intensified. This process is expected to continue into the second half of this year, exacerbating market volatility. JasmyCoin has fallen 30% in the past 30 days and another 16% in two weeks, with prices hovering around $0.0247 on Thursday. However, the market has shown signs of a 50% rebound, indicating a strong reversal in the short term.
STX
Stacks has shown a clear recovery momentum in the past week, with prices rising by 13%, sweeping away the decline of the previous month (which fell 21% during the period). Although STX tried to hit the upward trend of $2.48 in early June, it failed to hold the price, showing the volatility of the market. Nonetheless, STX still has a lot of room to go from its all-time high of $3.84 (set on April 1, 2024).
