Analyst: “This Altcoin Group Performs Better in New Rally”

Cryptocurrency analyst Miles Deutscher shared his latest analysis on altcoins on Twitter. Miles Deutscher said that new altcoins are outperforming in this bull and this trend may continue.

In a tweet on April 14, Deutscher claims that new coins (like ARB, APT, OP) outperformed their old counterparts during this rally. Deutscher explained that the market likes to gravitate towards the newest fashion, and the same thing happened last cycle and will happen again. Deutscher listed the reasons why new altcoins outperformed others as follows:

“This is down to 3 factors:

New tech offers an improvement on its predecessors, either material or perceived.

Lack of historic price action (resistance) is less psychologically limiting in terms of upside. There’s also a perception that the new coins can replicate how the old ones performed (sets a precedent to chase gains).

Current trends more effectively grasp retail mindshare vs older narratives.“

In addition, another analyst, Smiley, added a new reason for Deutscher’s new altcoins to attract more attention in his statement, and Deutscher was also approved.

“There are no remnants of big coin holders from previous cycles waiting desperately to close the losses or make a slight profit, so the selling pressure is much less.”

In particular, the release of cryptocurrencies such as Arbitrum and Aptos had a great impact.