Crypto market analyst Credible Crypto believes many alternative cryptocurrencies now offer a more attractive risk to reward opportunity than Bitcoin, particularly those that have fallen 80 percent to 90 percent from their all time highs.
According to the analyst, these heavily discounted assets could generate stronger gains than Bitcoin if market sentiment improves and the next phase of the bull cycle unfolds.
Bitcoin Still in a Healthy Long Term Structure
Speaking during the Ninja Trader podcast on July 5, Credible Crypto said Bitcoin has remained in a higher time frame correction since reaching its $126,000 peak in October last year. However, he believes the current decline represents a normal pullback within a broader bull market rather than the start of a long term bearish trend.
He pointed to Bitcoin’s consolidation between $50,000 and $75,000 during 2024, arguing that the market has returned to a price zone where investors previously accumulated significant amounts of BTC.
As long as Bitcoin remains above $50,000, he expects the current trading range to serve as a foundation for another upward move.
The analyst also highlighted on chain data showing that nearly 80 percent of Bitcoin’s circulating supply is now held by long term investors, the highest level ever recorded.
He explained that these holders have historically continued accumulating during periods of market weakness instead of selling into declines, helping reduce available supply until prices eventually recover.
Why the Analyst Prefers Altcoins
Credible Crypto revealed that he has shifted almost all of his investment portfolio into altcoins after accumulating Bitcoin at prices as low as $3,000 and later exiting most of his position as BTC approached $100,000.
While he believes Bitcoin could eventually climb from its recent low near $60,000 to around $250,000, he argues that many altcoins currently present greater upside because they have already experienced much steeper corrections.
According to him, several alternative cryptocurrencies are trading at valuation levels similar to where Bitcoin traded during its early growth stages around $3,000, $6,000, and $15,000.
He believes today’s deeply discounted altcoins resemble the accumulation opportunities that Bitcoin offered years ago before delivering its strongest rallies.
Not Every Altcoin Will Recover
Despite his optimistic outlook, Credible Crypto warned that investors should avoid assuming every cryptocurrency will participate in the next market rally.
He argued that a large percentage of the hundreds of thousands of digital assets currently in existence have little real utility or long term value and are unlikely to revisit previous highs.
Instead, he encouraged investors to focus on projects with proven products, active user communities, and sustainable business models rather than simply buying tokens because they have fallen sharply.
According to the analyst, only a small percentage of altcoins have the fundamentals needed to outperform during the next market cycle. Even if those projects never return to their previous record highs, he believes they could still deliver gains of three to four times their current value within weeks when market conditions become favorable.
By comparison, he noted that Bitcoin may require several months or even years to achieve a similar multiple, even if it eventually reaches his long term target of $250,000.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
