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3 Altcoins to Watch With Bitcoin’s BIG Rebound

3 Altcoins to Watch With Bitcoin’s BIG Rebound

Crypto looks like the internet did in the early 2000s?

Well, yes and no. 

Crypto has taken perhaps a bigger hit than the stock market. 

Bitcoin is down over 55% from its all-time high, and altcoins have been hammered.

But unlike the dot-com bust, we believe a BIG crypto comeback will happen much faster. 

This massive downturn — while hard to watch — also creates an investment opportunity of a lifetime. 

I polled the team to see if they were buying, holding or selling and you may (or may not) be surprised at their answers…

This is not advice, just opinion. And ultimately you have to do what’s best for you.

That said, watch today’s Market Talk for three altcoins to watch with bitcoin’s rebound: 

 

 

Amber Lancaster: Paul took an impromptu survey during our May 12 Zoom call with members of our investment and editorial team. He asked, “What have you guys been doing during this collapse in our stocks? Have you been trading? Buying? Selling? Adding? Nothing?”

Being that we are Bold Profits, 99% of the responses may not surprise you.

Reply number one: I’ve been buying all the way down.

Reply number two: I have been adding slowly.

Reply number three: I’ve been buying the dip.

Reply number four: I have been buying and thinking of buying my first Bitcoin.

Then Paul asked a follow-up question. “Why are you buying now?” This reply summed up the team’s sentiment:

“I think about fundamentals, especially with crypto projects. If I feel like fundamentals haven’t changed and fear is driving the market, which is good for long-term investors, then I am going to dollar-cost average in on different projects, especially on projects I already made a profit on.

If I made 10 times or 20 times on something that’s trading 50 times below, yeah, that’s perfect.”

We agree. Fundamentals haven’t changed and fear is driving the markets. Two statements that help point to a buying opportunity, especially in the cryptocurrency market. Hello, Bold Profits Nation. Welcome to Market Talk Monday on the Paul Mampilly YouTube channel.

Thank you so much for joining us. You are watching the home of Main Street, America 2.0 investing. Today, Ian Dyer, Senior Investment analyst and editor of Crypto Flash Trader, is here to give his take on why crypto is still the 21st Century digital investment of choice, despite its recent rout.

Let’s get started. Hello, Ian. Thank you for joining me today.

 

Is Crypto Crashing?

Ian Dyer: Good morning, Amber. Thanks for having me.

Amber: Glad you are here, especially during this environment. In a recent news headline a well-known crypto proponent tweeted, “Crypto is going through the lull that the internet went through during the dot com bust of the early 2000s.” Ian, what is your take about this comment?

Do you agree? Do you disagree? Why?

Ian: In a way I agree because I think both had a lot of scams that came out that people unfortunately bought into without knowing what they were buying into. But another way of looking at that is both had great, legitimate investments that got very, very cheap.

I think we’re seeing the process of that unfold in crypto. I would disagree with it because overall, after the Nasdaq imploded after the dot-com crash, it took a very long time for that to come back. I think it didn’t make new highs again until 2015 or 2016. I don’t think we’re going to have to wait that long for the overall crypto market cap to make a new high.

But I do see the similarity in what he is talking about.

 

Should You Buy, Hold, Or Sell?

Amber: That’s good to hear your perspective on that quote. My next question is, in this current market should folks be buying, selling, holding strong to their crypto? What’s your recommendation?

Ian: Number one, it would depend on your own personal financial situation, what you want to spend your money on, and so on. I’m not here to give financial advice, but I will say the most important thing is knowing exactly what you own in a time like this.

There are a lot of alt coins out there that will not make a new high from here. There are, however, some alt coins I am super bullish on and I believe are going to make new highs during the next bull market. Bear markets are where you have a lot of opportunity to buy.

I will also say having been through a bad bear market in crypto, alt coins definitely underperform Bitcoin (BTC) until BTC finally turns around and leads the market higher. It is super tempting to go all in on alt coins. Buying slowly over time is fine, but I would say in general to wait for BTC to turn around and lead the market higher before you really start putting more money in.

I bought the dip in 2018 and I kept buying the dip. I think a lot of potential was lost there because things kept going lower until BTC turned around in 2020. That’s what I would say. I am definitely bullish on some alt coin projects that are low and might go lower and would present an even better opportunity.

 

Ian’s Bullish Alt Coins!

Amber: I can say my ears perked up when you said you are bullish on some alt coins projects. Do you mind sharing a few with us? What are you watching?

Ian: Number one would be Chainlink. I know I have mentioned it a lot between this and the IanCast. Chainlink, to me, is still the most obvious thing that’s going to survive in the alt coin market because they are the number one bridge of data between the real world and the blockchain world.

Anything you see on electronics is a reflection of data. There is an infinite amount out there and there’s not much yet on the blockchain. There’s a ton of growth potential there. Chainlink provides the most important service in the crypto market being that bridge between the traditional world and blockchain.

Amber: Any others? Or is that your number one?

Ian: Number two would be MakerDAO. They are the group behind the Dai stable coin on Ethereum, which is probably the oldest and most well-renowned stablecoin out there. With the whole thing going on with Terra and UST, I would say they are the frontrunner by far.

I think they are despite UST, but with that happening I think people are going to be way more picky in what stablecoin they choose to buy. If they want to go the decentralized route, DAI is going to be the stablecoin of choice. Of course Maker will benefit from that.

Actually MakerDAO saw a big spike in price during that whole thing with Terra. I think that was a statement from the market that confidence in MakerDAO is through the roof and I think they will be another one to survive. They also did really well in the 2018 bear market compared to a lot of other alt coins, as did Chainlink.

Number three would be Uniswap. It’s the number one decentralized exchange out there. They still have a ton of liquidity. If you want to have a good place to trade, there needs to be a sufficient amount of inventory to trade. Uniswap still has a huge hold on the market with their liquidity

I think they are going to stick around and be a great investment going forward too.

Amber: There you have it. So we have Chainlink, MakerDAO and Uniswap. I think these are great recommendations for people to follow if you really feel like we feel at Bold Profits that crypto will have a turnaround and you want to be in in a bear market when prices are low.

 

Amber’s Wrap Up!

Ian, thank you for sharing your insights with us as always. Thank you.

Ian: Any time. Thanks for having me.

Amber: Have a wonderful, productive day ahead. Thank you again to Ian for joining us today and sharing his perspective. As a reminder, where BTC, crypto and alt coins are concerned, our team continues to be bullish despite its volatility. Ian is calling this market prime for a comeback.

In his Crypto Flash Trader strategy, he aims to identify which cryptocurrencies could have huge price moves before they happen. All we can say is don’t let the crypto market get you down. Don’t let it intimidate you. There is a land of opportunity there.

Now you can take advantage of a rebound without having to sift through crypto and alt coins out there on your own. As Paul says, “Ian is the guy you want in your corner when it comes to crypto. He can act as your guide.” Just click the strong hands to get all the details on Ian’s Crypto Flash Trader service.

Remember, you can follow Paul, Ian and me on Twitter: @MampillyGuru, @IanDyerGuru and @ALancasterGuru. Don’t forget to subscribe to this channel and give us a thumbs up if you like the content of this video and any of our videos.

Wishing you a great week ahead. Until next time, take care.

 

We sent you the same question I asked the team: Are you buying now? 

Around 70% said YES! 

So as always, but especially when markets are volatile, remember to follow the Rules of the Game.

And *claps* for YOU for staying #BOP (bullish, optimistic and positive)!

Regards,

Paul Mampilly

Paul Mampilly

Editor, Profits Unlimited

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