Miles Deutscher – The ONLY Altcoins You Should Buy During This Crypto Dip! (14.06.2024 Summary)

Miles Deutscher – The ONLY Altcoins You Should Buy During This Crypto Dip! (14.06.2024 Summary)

In the current volatile crypto market, many altcoins have experienced significant declines, leading to confusion among investors about which assets to hold or buy.

Miles provides a detailed analysis and guidance on navigating these challenging conditions.

  • Miles emphasizes the importance of being selective with altcoins during this period. He advises against holding a large number of tokens, suggesting instead to focus on a smaller, more consolidated basket of altcoins that meet specific criteria.

  • These criteria include being in an uptrend, having strong narratives, and not facing significant supply increases. This approach narrows down the pool of potential altcoins from thousands to a select few.

📈 He highlights the performance of major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which have shown resilience compared to many other altcoins.

For instance, while some altcoins are down 30-50% this year, BTC, ETH, and SOL have performed relatively well. This underscores the importance of asset selection in the current market.

  • Miles also discusses the broader market context, noting that we are still early in the altcoin cycle, typically peaking around 546 days post-halving.

  • He suggests that despite the current choppy market conditions, there are opportunities to accumulate strong altcoins at lower prices, positioning oneself for future gains when the market eventually rebounds.

In terms of specific altcoins, Miles mentions several that he believes could perform well over the next few months. These include

  • Ethereum (ETH) for its strong narrative and upcoming ETF catalyst, and other sector leaders like ONDO for Real World Assets (RWA), Drift and Jupiter for Solana exposure, and IO for AI.

  • He also points out the importance of avoiding altcoins with significant upcoming supply unlocks, as these are likely to face additional downward pressure.

Miles concludes by stressing the importance of patience and resilience in the current market. He advises investors to focus on building a well-rounded portfolio of strong assets, managing risk carefully, and taking advantage of periods of low volatility to accumulate quality altcoins.