Top Altcoins to Buy for Maximum Profits

As Bitcoin (BTC) ‘s price teased $67k on Friday, the altcoin industry, led by Ethereum (ETH), signaled bullish sentiment.

(CryptoSlate - August 5, 2024)

Bitcoin (BTC) price teased $67,000 on Friday, while the altcoin sector, led by Ethereum (ETH), signaled bullish sentiment.

Most altcoins have been approaching the apex of a multi-week consolidation that began earlier this year. Furthermore, on-chain data showed that more institutional investors have been aggressively accumulating in recent years in preparation for the euphoric phase of the crypto bull cycle.

Additionally, most altcoins have retested the bullish breakout from the macro falling trend.

With the inevitable reversal of Bitcoin dominance, paying attention to the altcoin industry is prudent to maximize profits.

$Btc #Btc Dominance Consolidating In This Range Now Expecting Downside Breakout Incase Of Successful Breakout #Alts Can Give Massive Returns In Midterm pic.twitter.com/vXmJtmkXqt

Top Altcoins to Buy for Maximum Profits

According to market intelligence platform Santiment, crypto investors should pay close attention to the average trading returns of different assets.

“If you believe markets are about to surge, history says that buying into assets that traders have experienced the most pain in have a greater probability of netting high returns for you,” noted Santiment.

Having critically analyzed the market data, Santiment believes that Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.

Meanwhile, Santiment highlighted that Toncoin (TON), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk for maximizing profits in the anticipated altseason.

Market Picture

Increased crypto volatility is expected to continue in the coming days as traders prepare for the FOMC statements next week. Additionally, August could quickly turn bearish for the entire crypto industry, as historical data suggests.

Nonetheless, the crypto industry will mostly tune bullish in the fourth quarter, fueled by the U.S. elections and anticipated interest rate cuts.

Also Read: Kennedy Jr. Proposes $615 Billion Bitcoin Investment Post Election Win

The above is the detailed content of Top Altcoins to Buy for Maximum Profits. For more information, please follow other related articles on the PHP Chinese website!