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There are rumors that a new Altcoin season is about to begin soon. Do you wish to take advantage of the current altcoin market scenario and make a huge profit out of it? Then, you should have a good idea about which altcoins to choose for making a profit. If you look for suggestions online, you will stumble upon a wide variety of recommendations. It may be a tiring task to choose the best from this pile of suggestions. Don’t worry. There is a way out. It is to listen to an analyst you trust.
Crypto analyst Miles Deutscher has published his ‘Top Five Altcoins of the Week’ in the last two weeks. Both those suggestions have stood the test of time. Now, he is back with his latest list. It sounds sensible to listen to what such a person has to suggest, doesn’t it?
Altcoin Market Growth: The Expectation
Deutscher has an optimistic view about the future of the altcoin market growth. In his latest series of X posts, in which he shares his view about the present crypto market scenario, particularly about his expectations regarding the Altcoin market, he asserts that the altcoin market is currently at a key breakout level. Crypto optimists believe that the market will break the level. It is sensible to assume that if the altcoin market breaks the crucial level, it will mark the beginning of a new Altcoin season.
As the altcoin market remains at a crucial juncture, it is important to make the right choices while dealing with it. Here is where the ‘Top Altcoins of the Week’ list by Deutscher becomes relevant.
Also Read : Crypto September Calendar: Key Economic Events to Watch This Week ,
Top Five Altcoins of The Week: What Expert Suggests
Deutscher’s list includes TAO, FET, SAGA, ALT and BEAM. It is evident that Al-tokens dominate the latest list. What it reflects is the expert’s confidence in the potential growth of AI-tokens.
Bittensor (TAO) is a prominent AI token on the list. In the last seven days, it has showcased a massive growth of 86.6%. The current price of TAO is $546.5. At the beginning of the month, the price was nearly 280.3. In the last 30 days, the market has seen a rise of 66.5%. It was on September 7, a strong bullish momentum emerged first in the market.
Though on September 16 and 17 the market faced some minor setbacks, the momentum has remained intact. In the last 14 days, at least 99.5% increase has been recorded.
Artificial Superintelligence Alliance (FET) is the second prominent AI token on the list. The case of FET is not different. It has also witnessed a growth of 27.3% in the last seven days alone. At the start of the month, the price was around $1.1334. In the last 30-days the market has seen a rise of 34.5%. Looking at the daily chart of FET, it is evident that on September 7 buyers took control of the market.
Although on September 15 and 16, sellers attempted to pull the price down, buyers successfully surmounted the pressure, pushing the price upwards. In the last 14-days the price has recorded an increase of 33.1%.
SAGA is another altcoin in the list. In the last seven days, the market has seen a rise of 37.8%. At present, the SAGA price stands at $2.27. At the start of the month, the price was just $1.2633. In the initial days of the month, the market showed a sideways momentum, ranging between $1.1608 and $1.5425. On September 16, a strong buying pressure emerged and helped the price break above the range. On September 20, it touched a monthly peak of $2.5073.
In the last four days, the price has been gradually slipping downwards. Considering the suggestion made by the expert, we can expect that the price will go up again. Anyway, in the last 14 days, the price has recorded an increase of 49.7%.
AltLayer (ALT) is another altcoin which has demonstrated commendable performance lately. In the last seven days alone, it has grown nearly 63.7%. Now, the price of ALT stands at around $0.12140. At the start of the month, the ALT price was just $0.07744. Like SAGA, the ALT market also experienced a sideways momentum in the first half of the month, ranging between $0.08266 and $0.07303. On September 18, it broke above the range, marking the beginning of a strong upward trend.
On September 19, the price grew from $0.08405 to $0.11073. The three red candlesticks formed over the next three days could not even pull the price down to the mid-range of September 19’s large green candlestick. September 23’s green candlestick covered the previous three red candlesticks and pushed the price to a peak of $0.11827. At present, the market looks very bullish.
BEAM is the last and final altcoin in the Top Five Altcoin list released by Deutscher. At present, the price of BEAM stands at $0.01776. In the last seven days alone, the market has displayed an increase of 22.8%. At the start of the month, the price was around $0.0145. It slipped to a low of $0.01167 on September 6. The market saw the emergence of a bullish trend on September 7.
The trend has been consistently taking the price upwards, even though it suffered a few setbacks on September 11 and 16. Now, the market appears very bullish.
In conclusion, the charts suggest a positive outlook for the altcoins in the Deutscher’s Top Five Altcoins of the Week list.
