Do Not Buy Bitcoin If You Want To Make a 1000x Return, Here’s What Top Analysts Says.

Altcoin Poised Aiming For $70k

The post Do Not Buy Bitcoin If You Want To Make a 1000x Return, Here’s What Top Analysts Says. appeared first on Coinpedia Fintech News

Bitcoin, the world’s largest cryptocurrency, has experienced a notable decline, dropping by 5.60% to $65,390 from the recent peak of $70,000. This decline reflects a shift in sentiment within the crypto market, with investors facing increasing challenges in achieving high returns.

In the meantime, prominent crypto analyst SlumDOGE Millionaire has sparked a debate in the cryptocurrency community with a tweet advising against investing in Bitcoin during the current bull run. Instead, he suggests exploring alternative coins that he believes could offer 1000x profit.

Do Not Buy Bitcoin

In a recent tweet, SlumDOGE Millionaire cautioned investors against purchasing Bitcoin during the ongoing bull run, claiming that the leading cryptocurrency may only provide 3x returns. 

He predicts that even if Bitcoin reaches $200,000 or $250,000, investors may only see a maximum return of 3.5 times their investment. As a result, he advises holders to sell their Bitcoin holdings immediately for better investment opportunities.

Alternative Coins For 1000x Return

Instead of Bitcoin, SlumDOGE Millionaire recommends investing in alternative coins, particularly those that ranked in the top 10-15 of the cryptocurrency market such as DOGE, AVAX, ADA, and SOLANA, which he believes have the potential for significant gains. 

Additionally, he suggests considering meme coins like BRETT, WIF, PEPE, and FLOKI, which currently rank in the top 10 meme coins by market capitalization. However, he believe that these coins can 1000x return in this bull run. 

According to SlumDOGE Millionaire, investing in smaller market cap coins, ranging from $10 million to $100 million, carries higher risk but also offers the potential for massive returns, possibly up to 1000x the initial investment.

Bitcoin To Hit $62k, IF…

Aligning with this prominent chart analyst Ali Martinez highlights Bitcoin’s 200EMA on the four-hour chart, noting its consistent role as a strong support level over recent months. Since early February, the 200EMA has acted as a formidable barrier, preventing significant downward movement in Bitcoin’s price.

However, Martinez also warns of the potential consequences if the support level is breached, citing the example of mid-January when a break below the 200EMA resulted in further losses for Bitcoin.

However, Martinez holds the belief that if this crucial support level is breached, Bitcoin could potentially see a downturn, with its price declining to the range of $60,000 to $62,000.

While his advice may seem unconventional, SlumDOGE Millionaire’s tweet has sparked discussions about alternative investment strategies in the cryptocurrency market. 

from Coinpedia Fintech News

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