Many investors who bought altcoins during the last bull run are now struggling with losses and wondering about the prospects for recovery. Chief among these factors is the absence of an altcoin season. Since the FTX crash, only a handful of tokens have managed to surpass their previous highs against Bitcoin, indicating a subdued market environment.
Bitcoin dominance, a key metric for the health of the altcoin market, has been stagnant between 51% and 56% over the past six months. This is in stark contrast to previous bull cycles, where dominance dropped significantly, indicating a lack of momentum in the broader altcoin market.
In these uncertain times, cryptocurrency analyst No Bs Crypto discusses his strategy for selecting 10 altcoins in his latest video, aiming to achieve a goal of $1 million. He explains that it is important to start with a carefully planned portfolio size, rather than splitting a small amount of capital. Key factors include a strong narrative, diversification in market capitalization, and the potential for impressive returns.
On the risk side, he introduced a table that categorizes coins by risk and reward potential based on multiples and market cap. Coins are divided into low-risk, medium-return categories and high-risk, high-return categories. Here are some of the altcoins listed by the analyst:
Wormhole: Showing strong momentum recently despite bearish sentiment, with potential for 15x returns, with a focus on interoperability.
Internet Computer: Considered high risk but potentially high reward, expected to perform well, possibly exceeding 15x return.
BEAM: Considered a gaming-related altcoin, it is expected to perform well and could potentially achieve returns of up to 35x.
Flux Network: With a projected return of over 25x under favorable conditions, it is known for its potential performance.
Goldfinch: Special mention of a target price of 25x return.
Pyth Network: Categorized in the yellow risk category due to its market cap, it is expected to achieve higher multiples.
Spectral: Identified as micro-cap stocks trading at 45x expected returns, selected for their unique market positioning.
