Despite the continuous upward trend in mainstream cryptocurrencies and the US stock market, confidence in altcoins seems to be at an unusually low level. The expectations instilled by previous cycles have left many investors disappointed with the performance of altcoins in this bull market, as portfolio returns have stagnated.
Historical data shows that compared to the average return rate of -6.96% in June over the past 5 years, Bitcoin (BTC) has historically performed well in July, with an average performance of +7.39%.
Despite the good historical performance in July, the cyclical nature of the market indicates that August and September may show weaker performance. Is there an opportunity to seize in July? Is there really a reversal in the bearish market in July?
"The third quarter is usually the weakest quarter, with an average return rate of only 5.87%." Due to the seasonal trend of Bitcoin's performance, the first and fourth quarters have historically been the strongest. Understanding these patterns can help everyone prepare for the upcoming market fluctuations.
In the past year and a half, the total market value of cryptocurrencies has grown significantly, but the volatility has been surprisingly low. Although Bitcoin has reached a historic high, there is still a gap in the overall market compared to the frenzy of 2021, mainly because altcoins have not kept up with the growth of Bitcoin. The funds flowing into speculative assets have been less than expected, catching many people off guard.
Undoubtedly, in this bull market, Bitcoin has stolen the show, occupying an increasingly larger market share as it rises, leaving altcoins far behind. In previous cycles, altcoins attempted to catch up with Bitcoin, but now it seems like a pipe dream. The cascading decline in liquidity has restrained any possibility of starting another altcoin season across the entire market.
As for which cryptocurrencies to buy in the crypto summer of July? A comprehensive analysis of the current cryptocurrency market has been conducted, and based on narrative intensity, catalyst potential, and current price levels, choices have been ranked from high to low, allowing everyone to make their own selections based on their positions.
Ethereum (ETH)
Ethereum (ETH) has relatively good liquidity and lower volatility in this market cycle. In addition, the upcoming Ethereum spot ETF is a potential key catalyst that could drive prices higher.
Pendle (PENDLE)
Pendle is a strong contender in this market cycle, participating in real-world assets (RWA) and liquidity staking narratives. Despite the price drop during the token unlocking period, this presents a good buying opportunity.
Pepe (PEPE), BOME
In the meme coin category, the most promising is Pepe (PEPE), which has strong meme value and community cohesion, with the potential for significant price appreciation during the bull market. Additionally, BOME is also a viable option in this category, and you can choose either one.
Solana (SOL)
Among mainstream cryptocurrencies, Solana (SOL), the main competitor to Ethereum (ETH), is also considered a promising cryptocurrency. Despite facing liquidation from FTX, Solana (SOL) continues to show strong performance and currently holds a significant position in the meme coin ecosystem. Therefore, Solana can be considered as a primary investment.
Prime (PRIME)
Prime (PRIME) has long been involved in the AI and gaming sectors. Given the AI+GameFi narrative in this market cycle, Prime (PRIME) has long-term attractiveness and value for holding.
Bittensor (TAO)
Bittensor (TAO) is considered promising in the field of artificial intelligence (AI), and it may be one of the cryptocurrencies that can easily achieve a return of over 400% in this market cycle.
During market fluctuations, it is recommended to continue accumulating chips during significant sell-offs and take profits during significant rebounds, as this strategy can help achieve stable long-term returns.
You don't need to hold all of them. Depending on your capital size, trading preferences, and your outlook on certain cryptocurrencies, you can make your own choices.
In the face of the harsh market reality and various liquidations, people may feel that the investment opportunities in altcoins have passed. Obviously, at this critical juncture, if you can't keep up with the narrative wave, it will become increasingly difficult to surpass the investment returns of Bitcoin and Ethereum.
Unless you are constantly watching the market trends or have enough influence, it is impossible to catch every trend. In today's market, negative sentiment prevails in the industry, which also means that investors need to rebalance their portfolios and consider risks. The future of the altcoin market is uncertain, but it shouldn't get any worse.
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