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Cryptocurrencies experienced a volatile period last month, with some altcoins performing significantly better. Traders are optimistic as the most active period of the last quarter is approaching. All indicators suggest that a historical bullish phase is about to begin. What do experts predict in their recent analyses?
Current Predictions for Cryptocurrencies
Miles Deutscher analyzed the current situation in cryptocurrencies today. He attributed the recent decline to a surge in sell-offs largely due to delayed long liquidations. Last Thursday, the market experienced $2.3 billion in sell-off, marking one of the largest collective sales in recent times.
“The movement was largely driven by long liquidations that came too late (which was not unexpected). I will be making DCA purchases for quality altcoins today. I believe we may see a deeper, shorter correction at some point, and I want to take advantage of that. The volatility from the elections will continue, so I am steering clear of leverage.”
Additionally, the analyst shared charts explaining how election results might impact the markets. As seen in the short-term movement, the drop in Trump’s victory probability on Polymarket played a significant role. As the election date approaches, Harris’s odds on cryptocurrency prediction platforms have increased.
If Kamala Harris wins, as indicated by polls from Reuters and ABC News, we could see a more profound correction in cryptocurrencies.
Top Performing Altcoins
In previous quarter performance reviews, meme coins emerged as the highest-gaining category. The latest performance chart shared by Daan Crypto Trades confirms that this trend continues.
“Once again, the meme coin sector led the performance last month. Results varied significantly across different sectors. The AI sector has been the slowest this time, as meme coins absorbed liquidity.”
