Another leg down for crypto looks highly certain in the weeks ahead. However, some of our altcoins continue to show resilience in the face of this declining market. For instance, in one of our previous crypto briefs, we talked about Quant (QNT) being a market leader, now doubling from its initial low this July.
However, coins such as XRP, HBAR, XLM, and ALGO are all giving out sell signals. With the large amount of bankruptcies we have seen from crypto companies, it is entirely possible that the market witnesses a major black swan event in a final round of margin-call liquidations. While these events are difficult to predict, the market looks poised to roll over into August starting next week. As we approach a bottom over the next few weeks, we are looking to invest in altcoins that have been hit hardest by the correction. Historically, we have seen that the more a coin has been affected by a decline in the market, the harder it will rebound. This effect occurred with QNT this month, but also with Decentraland (MANA) earlier in June. We will actively monitor the market for the most undervalued altcoins and compile a list for you to consider researching once we feel we have come close to a bottom.
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