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The total market value of cryptocurrencies is advancing towards 4.2 trillion dollars, with investors eagerly awaiting an improvement in risk appetite for altcoins. Analysts have shared current market assessments for altcoins, highlighting significant details. In the coming days, the ongoing government shutdown will continue and the Fed’s minutes will be released.
Major Altcoins: ETH, OP, and LINK
The king of altcoins was striving to reclaim $4,500 at the time of writing, while BTC was experiencing another day of records, leaving altcoins in the background. During such periods, BTC reaches record levels, and unless significant negative developments occur, altcoins tend to follow suit after a while. If this pattern repeats, we might witness a rise in altcoins in the coming days.
Beyond short-term movements, some are targeting more in the mid to long term. ETH, for instance, remains below its previous all-time high and, compared to BTC, is almost going through bear markets. Washigorira emphasized today that it’s time for ETH to start its movement towards the $7,900 target.
Carl Moon has drawn attention to the overlooked OP Coin. Believing the risk-reward ratio is extremely favorable, Carl is among those who think purchasing OP at current prices could yield over 400% gains.
“OP is still at bear market lows, I think the risk/reward ratio is very good. It’s a solid spot play. The range is narrowing, indicating a breakout soon.”
For Chainlink $22 (LINK), Ali Martinez has returned with insights. The altcoin forming partnerships with the world’s largest companies could use a bit more comeback enthusiasm. While the chart hasn’t yet broken the downward trend, Martinez anticipates a move extending to $27 with closures above $23. Investors have been disappointed for so long that if LINK Coin succeeds, it could surpass resistance, initiate a historic movement, and rapidly test $50.
Reflecting on HYPE Coin
In 2017, cryptocurrency markets were vastly different. The year 2021 was also unlike today. Each cycle paints different pictures depending on the dominant investor class. For investors who have experienced previous cycles, sometimes it’s advantageous, and other times it leads to disappointment with misplaced expectations.
Within this cycle, to reduce future regrets, Sherpa addressed earlier investors through Hype Coin and shared these thoughts:
“It’s intriguing that the 2017 cohort, despite being more educated and experienced than younger crypto investors, mostly missed Hyperliquid. I also missed HYPE and received only a small airdrop.”
“I believe this is because, as a cohort, we are generally less open to trying new applications compared to new entrants. In the past, perp/cex transactions were the only way to make money. Back then, there were no defi applications, NFTs, farms, or anything else. As a result, most in my cohort share charts and market ideas instead of venturing into new horizons and trying new things.”
“Perhaps we’re just worn out and too attached to our habits, it’s hard to say. However, most of our ‘basics’ education ended with NFTs in 2021/2022. Since then, nothing new has happened.”
“My suggestion to you is to keep trying new things and new applications. You will often be rewarded and occasionally find something crazy like HYPE. There’s no better sector in the world that rewards early participants this way.”
