Best Crypto to Buy Now for Max Profits as Bitcoin Dips

The cryptocurrency market has been sending mixed signals lately, leaving many wondering what’s next. Bitcoin’s price has dipped slightly to $96,926, and its dominance has dropped to 58.84%, sparking rumors of a shift toward altcoins.

While Bitcoin faces a minor setback, altcoins are starting to capture attention with some showing impressive growth.

Could this be the beginning of an altcoin season? And if so, which altcoins are worth keeping an eye on? Let’s dive into the latest trends and what this means for investors.

Altcoins Break Accumulation Phase: What It Means

Altcoins have been quietly accumulating strength. Their dominance recently hit 58%, breaking a 525-day accumulation phase—a period where prices stabilize at lower levels, signaling a potential market bottom. With several altcoins rising from this phase, investors are eyeing breakout opportunities.

This could be an ideal time to accumulate promising altcoins poised for significant gains.

Solana Leads the Charge

Mark Yusko, CEO of Morgan Creek Capital, is particularly bullish on Solana. After a meteoric rise from $13 to $240, Solana continues to show immense growth potential. Its robust development team and recent milestones bolster this outlook. In November alone, Solana’s price surged over 40%, and it outpaced Ethereum in monthly fees, generating $183.46 million compared to Ethereum’s $181.42 million.

Yusko believes Solana is positioned to become a major long-term player in the crypto space, riding on its superior technology and growing adoption.

Caution, Investors!

While Yusko is optimistic about Solana, he adopts a more cautious stance on altcoins like XRP, Cardano, and Hedera. He acknowledges their potential as bridges between traditional finance and crypto but views them as riskier bets.

XRP, in particular, faces ongoing regulatory hurdles, adding a layer of uncertainty. Yusko believes clarity will improve once the SEC appoints a new chair.

Yusko also issued a warning about meme coins like Dogecoin, acknowledging their speculative appeal but highlighting the significant risks they carry. While they may offer short-term gains, their volatility makes them a risky long-term investment.

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Altcoin’s Current Status

Currently, altcoins (excluding Ethereum) account for 30.2% of the total crypto market—a sharp drop from the 41% seen during the 2021 bull cycle. For altcoins to regain those levels, a substantial influx of fresh capital is required. Institutional investors and ETFs remain heavily focused on Bitcoin, leaving altcoins to rely on retail traders and innovative strategies to attract investment.

We’ll Have to Play a Waiting Game

The crypto market’s total capitalization has surged to $3.23 trillion, with Bitcoin contributing $1.85 trillion and altcoins at $785.67 billion. However, for altcoins to trigger a sustained rally, they need to surpass the 70 mark on the Altcoin Season Index. While early signs suggest a shift, it’s still too soon to declare a full-blown altcoin season.

Investors should keep a close eye on key metrics, particularly Bitcoin dominance, to gauge the market’s direction.

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