Renowned Analyst Reveals Three Altcoins He Bought During the Downturn – Shares His Altcoin Season Prediction

Cryptocurrency analyst Miles Deutscher offered his thoughts following the recent market decline. The famous analyst viewed the recent market decline as a buying opportunity and shared his new positions with his followers. Deutscher stated that the primary driver of the recent market decline was the higher-than-expected Producer Price Index (PPI) inflation data of 3.3 percent. This led to market concern because it reduced the likelihood of interest rate cuts in the near future. However, the market quickly recovered, demonstrating that interest rate cut expectations remain high. He noted that the market believes that long-term interest rate cuts are inevitable, rather than short-term inflation data. The analyst explained that he opened long positions in assets he deemed strong, such as Ethereum (ETH), Ethena (ENA), Chainlink (LINK), and Bitcoin, during the market decline. Related News: The Market Experienced a Downturn, But One Company Cannot Be Stopped: They Made a Significant Addition to Their Portfolio with This Altcoin He stated that he prefers safer assets for leveraged dip buys, while he also makes spot purchases of other assets. He specifically cited ENA and LINK as among the current strongest altcoins. However, let us also remind you that leveraged transactions in the already high-risk cryptocurrency industry can lead to the rapid loss of all assets, including the principal. Deutscher reviewed his previously created “Altcoin Season” model, stating that the four triggers required for an altcoin season (a decline in Bitcoin dominance, a rise in the ETH/BTC ratio, a rise in the altcoin season index, and narrative-driven movements) have occurred or are about to occur. However, he argued that this altcoin season will be characterized by short, sharp, and focused rotations in specific sectors, rather than a broad period where everything rises. Deutscher highlighted two main ecosystems that he believes will potentially outperform the market: Solana: He said he thought Solana would rise after Bitcoin and Ethereum, citing its strong ecosystem, interest from companies and ETF speculation. Base: Coinbase’s slow rollout of DeFi access to its 120 million users holds great potential, he noted. *This is not investment advice. Continue Reading: Renowned Analyst Reveals Three Altcoins He Bought During the Downturn – Shares His Altcoin Season Prediction