Analyst Identifies Promising Coins for Profits Warns Altcoins Might Face Total Loss

Cryptocurrency analyst Lark Davis expressed his frustration with the current market downturn, expressing a desire to sell off his altcoin holdings and start fresh when the next bull market arrives. However, he emphasized that market downturns are a natural part of the crypto cycle, and while not all coins will recover, major ones are likely to bounce back.

Davis noted that the altcoin market is experiencing varied activity and sentiment, with certain coins like ICP, Kaspa, Oasis, Monero, and Jupiter garnering attention for their unique features and strategic moves. While some coins, such as XRP, may struggle to maintain their relevance against newer networks like Solana, others like Jupiter are making significant efforts to increase their value.

In terms of the broader market, the expert pointed out that there is ongoing panic surrounding specific Bitcoin assets, and he suggested that this fear has become a dominant narrative. He advised investors to consider buying Bitcoin during market downturns, as these periods often present lucrative opportunities.

Davis highlighted several strong altcoins that investors should pay attention to. Solana, for example, stands out for its ability to handle high transaction volumes at low costs, positioning it as a strong competitor to networks like XRP. Avalanche is also noteworthy for its high performance, scalability, and interoperability with other blockchains. Additionally, Jupiter’s decision to reduce its supply by 30% is seen as a bullish move that could potentially increase its value by reducing the number of available tokens, leading to increased demand and price appreciation. The Oasis Network is focused on privacy-preserving blockchain technology and aims to create a scalable and versatile platform for decentralized finance (DeFi) applications.

However, Davis cautioned against reinvesting in projects that are unlikely to recover from the current market crash, referring to them as “destined for the dustbins of history.” While he holds Fantom and recognizes its potential, he believes many altcoins now carry significant risks. He expects some altcoins to recover alongside the broader market, but others may end up worthless.

Tags: Altcoins, Bitcoin, Crypto news, Price Analysis