Which crypto is best to buy this cycle besides Bitcoin?
It's a question I get asked a lot.
If we're talking about large amounts, we have to look at the big mcap coins with high liquidity and volume.
It's quite telling from this screenshot.
Let's break it down in a thread.
🧵...
It's a question I get asked a lot.
If we're talking about large amounts, we have to look at the big mcap coins with high liquidity and volume.
It's quite telling from this screenshot.
Let's break it down in a thread.
🧵...
1/
First, we can look at the weekly ROI (first column).
It is obvious that the best performers now are $AVAX, $SOL, $BNB and $ETH
However, this is not enough, so we should take into account larger timeframe performance too...
First, we can look at the weekly ROI (first column).
It is obvious that the best performers now are $AVAX, $SOL, $BNB and $ETH
However, this is not enough, so we should take into account larger timeframe performance too...
2/
...This is why I would suggest we look at the YTD ROI to get a better picture in the long run.
While $AVAX has great weekly ROI right now, it is on negative from the start of this year. Thus, it is less appealing, while $BNB, $SOL and even $TRX and $TON are leading.
But...
...This is why I would suggest we look at the YTD ROI to get a better picture in the long run.
While $AVAX has great weekly ROI right now, it is on negative from the start of this year. Thus, it is less appealing, while $BNB, $SOL and even $TRX and $TON are leading.
But...
3/
...but both $TRX and $TON are at higher risk of regulation and uncertainty:
$TON suffers from the controversy of the arrest of Telegram developer Pavel Durov. Even though it is not directly tied to Telegram anymore, it still holds a strong connection, which is problematic.
...but both $TRX and $TON are at higher risk of regulation and uncertainty:
$TON suffers from the controversy of the arrest of Telegram developer Pavel Durov. Even though it is not directly tied to Telegram anymore, it still holds a strong connection, which is problematic.
4/
The recent arrest of Pavel Durov was met with panic selling, leading to a sharp decline in TON’s price. $TON ’s market cap plummeted, falling from $17.1 billion to around $14 billion within hours of the news. This is quite risky imo.
$ETH is underperforming and as for $TRX...
The recent arrest of Pavel Durov was met with panic selling, leading to a sharp decline in TON’s price. $TON ’s market cap plummeted, falling from $17.1 billion to around $14 billion within hours of the news. This is quite risky imo.
$ETH is underperforming and as for $TRX...
5/
$TRX is directly linked to Justin Sun's various crypto ventures, such as Huobi, Poloniex and the crypto-pegged stablecoin $USDD, which is a concern.
Should anything go wrong with either of these in the future, $TRX will be greatly affected. Hence why, I wouldn't choose it.
So?
$TRX is directly linked to Justin Sun's various crypto ventures, such as Huobi, Poloniex and the crypto-pegged stablecoin $USDD, which is a concern.
Should anything go wrong with either of these in the future, $TRX will be greatly affected. Hence why, I wouldn't choose it.
So?
6/
So we are left with only $BNB and $SOL in the big mcap players.
$BNB is tied to Binance exchange, so again, there's a risk of future regulations that could impact its performance, while $SOL is prone to outages and centralisation, which is a concern, but so far...
So we are left with only $BNB and $SOL in the big mcap players.
$BNB is tied to Binance exchange, so again, there's a risk of future regulations that could impact its performance, while $SOL is prone to outages and centralisation, which is a concern, but so far...
7/
So far $SOL has seen a lot of interest from new investors and tokens launched on its platform are having the most action during this cycle, so I would be more inclined to park some of my cash when I get rid of my old ETH stash.
Why would I do that?
...
So far $SOL has seen a lot of interest from new investors and tokens launched on its platform are having the most action during this cycle, so I would be more inclined to park some of my cash when I get rid of my old ETH stash.
Why would I do that?
...
8/
Since the start of this cycle, $ETH is underperforming. It's lost 50% of its value against Bitcoin, while $SOL and $BNB are outperforming $BTC. This means, my money is growing better with either of these alts than with $ETH (if the trend continues).
In conclusion...
Since the start of this cycle, $ETH is underperforming. It's lost 50% of its value against Bitcoin, while $SOL and $BNB are outperforming $BTC. This means, my money is growing better with either of these alts than with $ETH (if the trend continues).
In conclusion...
9/
This cycle seems to be more about the $ETH competitors and namely, #Solana and #BNBSmartChain, to some extend #Avalanche (but that was kinda brief).
Hence why, if I want to diversify some of my ETH stash, I would allocate it to those two chains.
...
This cycle seems to be more about the $ETH competitors and namely, #Solana and #BNBSmartChain, to some extend #Avalanche (but that was kinda brief).
Hence why, if I want to diversify some of my ETH stash, I would allocate it to those two chains.
...
10/
I do hold $TON and a bunch of other alts, but I have smaller size positions in those, due to higher risk of uncertainty, or lower liquidity, lower trading volumes and other factors that make them higher risk.
The bigger amounts I invest require lesser risk.
Hope that helps.
I do hold $TON and a bunch of other alts, but I have smaller size positions in those, due to higher risk of uncertainty, or lower liquidity, lower trading volumes and other factors that make them higher risk.
The bigger amounts I invest require lesser risk.
Hope that helps.
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