The post Top 2 Altcoins Ready For Massive Surge In Coming Weeks appeared first on Coinpedia Fintech News
As the week begins, both Bitcoin and Ether are showing robust performance. Bitcoin, the largest digital asset globally, maintains a value above $30K, while Ether experiences a 1.3% increase, reaching $1,901.
According to analyst Miles Deutscher from the YouTube channel Crypto Banter, there is a prediction that an altcoin rally will happen after the current Bitcoin rally faces challenges. Deutscher explains that during bear markets, crypto funds tend to move around because there is less trading activity and the overall market is less volatile.
This rotation happens because altcoins may present new opportunities for investors when the market conditions change. In simpler terms, Deutscher believes that once the Bitcoin rally slows down, people may start investing in other cryptocurrencies, leading to a rally in altcoins.
Pepe (PEPE) Emerges as a Promising Altcoin
One altcoin that has garnered significant attention this year is Pepe, a frog-themed meme coin. While its initial high volatility has subsided, experts believe that the Pepe market may experience a resurgence. With a market capitalization of approximately $641 million and a daily trading volume of around $234 million, there are signs of activity in the Pepe market.
Last week alone, Pepe’s price surged by approximately 65%, reaching around $0.00000153 during the early Asian market on Monday.
Analyst Miles Deutscher suggests that Pepe’s price may be forming a bullish flag pattern, often indicating an upward breakout. As a result, it is advisable to closely monitor Pepe’s performance in the coming weeks.
Litecoin (LTC) Shows Promise in DeFi Summer
Another altcoin to keep an eye on during the DeFi summer of 2023 is Litecoin (LTC). With its strong fundamental aspects and medium-cap status, Litecoin has emerged as one of the top coins on Crypto Banter’s watchlist, exhibiting significant upside potential. Analyst Deutscher has observed that the weekly price action of Litecoin is forming a rising channel, suggesting the possibility of further gains.
Adding to the optimism surrounding Litecoin, the cryptocurrency community anticipates the third halving event in August. Historically, halving events have acted as bullish triggers for cryptocurrencies, potentially driving up demand and prices.