Yesterday afternoon, Bitcoin (BTC) briefly surged above $69,000 but couldn’t maintain this level and the price pulled back. All eyes were on Donald Trump’s speech. Despite Trump’s strong pro-Bitcoin statements, things didn’t go as expected, and Bitcoin’s price fell back to $67,000. Meanwhile, attention turned to altcoins. One of the leading companies in the cryptocurrency analysis field made significant statements about this situation.
Santiment Statements
Santiment, one of the world’s leading crypto analysis firms, made a statement on Friday about altcoins that have the potential to rise. Santiment evaluated the market value to realized value (MVRV) Z-score of the cryptocurrencies under review to determine if the assets were undervalued or overvalued.
An asset with a low MVRV Z-score is considered undervalued, while an asset with a high MVRV Z-score is considered overvalued.
The realized value, on the other hand, is considered the price at which each asset was last traded and aims to measure how many investors are in profit or loss.
Santiment’s statement on the matter was as follows:
If you believe the markets are about to fluctuate, history suggests that investing in assets where investors are suffering the most is more likely to yield high returns.
Altcoins Highlighted by Santiment
Santiment highlighted decentralized exchange (DEX) Uniswap (UNI), memecoin Shiba Inu (SHIB), high-volume altcoins Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP, which is at the center of the crypto world turmoil, as having low MVRV Z-scores and recently troubling their investors.
For investors looking to make riskier purchases, Santiment pointed to Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
