Ben Armstrong, founder of popular YouTube channel Bitboy Crypto, shared the altcoins he thinks every crypto investor should have in their portfolio. Citing Bitcoin (BTC) dominance as the reason for this, Armstrong stated that unlike previous cycles, BTC dominance cannot rise above 50% again.
When we examined the previous cycles, we saw that in the bear market, money was withdrawn from altcoins and went to Bitcoin or outside. This caused Bitcoin dominance to rise up to 70% and altcoins to lose a lot of value. However, the analyst, who thinks that the increasing popularity in crypto money markets today is not only collected in Bitcoin, stated that altcoins can also take a strong stance.
Referring to the importance of altcoin selection at this point, Armstrong announced the altcoins he intends to keep in his portfolio. In his post on his Twitter account, he said that Ethereum (ETH), Ripple (XRP) and Cardano (ADA) should be in every crypto money investor's portfolio.
"Bitcoin dominance is never going above 50% again. What a time to be alive! If you don't own $ETH, $XRP, & $ADA in your portfolios you are doing it wrong."
Optimism's Ethereum deposits are growing rapidly
With Ethereum 2.0 expected to be launched soon, investors have deposited an extremely high number of ETH in its smart contract, with deposits rising to 40,000 coins on Optimism over the past 90 days. Alongside the massive increase in funds raised, Optimism has also seen an increase in trading volume. this was seen as a serious catalyst for the speculative transactions of the current OP token rally.
Former BitMEX CEO Arthur Hayes shares his Ethereum price forecast
Former BitMEX CEO Arthur Hayes, who made a name for himself with his predictions about the crypto money market, spoke about the largest altcoin Ethereum (ETH). Hayes said in a recent blog post that the highly anticipated Merge upgrade will start the rally for ETH. According to Hayes, if the transition to the PoS system in ETH is successful and the FED softens its hawkish attitude in monetary policy, Ethereum can see $ 5,000. However, if the FED does not take a step back in its policy and continues the same, ETH can be at the level of $ 3,500.