news 
Analyst: Skip Bitcoin FOMO, Altcoins Offer Better Gains Now
Despite Bitcoin’s (BTC) remarkable surge to nearly $119,000, a prominent analyst has warned investors against buying into the hype, instead advising them to focus on altcoins for better returns.
CrediBULL Crypto has issued a stark warning, urging traders not to fall prey to FOMO (fear of missing out). According to the analyst, Bitcoin’s current rally lacks structural validity and presents limited opportunities for significant gains. On the other hand, altcoins such as Ethereum (ETH), Cardano (ADA), and Hyperliquid (HYPE) have been consistently posting impressive weekly gains.
In fact, ETH has recorded a staggering 18% growth over the past seven days, outpacing Bitcoin’s modest 8.9% rise in the same period. The recent developments in the market suggest that holders are no longer rushing to exit their positions, as exchange balances have plummeted by over 21% in just four months.
Furthermore, metrics such as MVRV ratio, SOPR, and MPI all indicate a sustainable rally with long-term potential for altcoins. These indicators signal that the current Bitcoin price surge is not driven by speculative anxiety but rather strategic accumulation and restrained selling activity.
In stark contrast, Bitcoin’s 650% rise above its ideal accumulation zone means it has exhausted much of its upward momentum. The analyst emphasized that without a clear trade setup, investors should refrain from buying into the cryptocurrency at these levels, instead choosing to focus on altcoins for significantly better returns.
The comments from CrediBULL resonate with sentiments expressed by former BitMEX CEO Arthur Hayes and popular YouTuber Crypto Rover, who have both likened the current market cycle to November 2024. This time around, they predict a major altcoin rally following Bitcoin’s price surge.
In conclusion, for those looking to maximize their returns in the cryptocurrency market, it seems that skipping FOMO and focusing on altcoins would be the more prudent strategy, as these assets offer significantly better gains compared to Bitcoin at this moment.
Source: cryptopotato.com
