Miles highlights serious issues in the altcoin market. Unlike previous cycles, the current one is flooded with new tokens, but demand can’t keep up, driving prices down. He notes that while 2021 saw a lot of capital entering the market, this time, there's less money coming in as the number of coins keeps rising.
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Insiders like founders and venture capitalists are launching tokens at inflated prices, aiming for quick profits rather than long-term growth.
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This, combined with regulatory pressures, is making it harder for regular investors to get in at fair prices, further hurting the market.
Despite this, Miles sees some opportunities. He recommends focusing on a few altcoins with strong communities, solid technology, and low dilution, such as Fantom. Meme coins in strong ecosystems might offer short-term gains but are risky.
His advice is to be selective and hold fewer altcoins to avoid dilution risks. Instead, concentrate on high-conviction picks in market leaders. While big gains may be less likely this cycle, careful choices and awareness of market trends can still lead to profits.
