Mastering Key Cryptocurrency Investment Advice — From Altcoins to Bitcoin and Ethereum’s Thorough Analysis

Mastering Key Cryptocurrency Investment Advice

Friends who often read my blog should know by now that I personally invest in only two cryptocurrencies. One is Bitcoin and the other is Ethereum. The ratio of spot holdings is roughly 7:3. I have never actively purchased any altcoin spots other than Ethereum, unless I approach it with a gambling mindset. Even then, I have only tried one or two altcoins at most. It’s not because altcoins are no good; there is another reason. If you want to find out why I never recommend altcoins to friends, make sure to read to the end of this article.

Cryptocurrency Investment Advice: Do Not Blindly Follow the Market

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Good morning, good afternoon, and good evening, friends! I’m Inky Panther, a cat with sunglasses. Welcome back to my blog, where I’m the lucky cat that helps you make money. However, please note that the content of my articles does not constitute any investment advice. Should you lose money from reading my articles, it has nothing to do with me, thank you. Now, let us get to the main topic.

Regarding altcoins, I always remain cautious in my past articles, whether they are collaborative pieces or simple introductions. I only wish to provide objective information, so you can understand and ultimately make your own decision about whether to purchase.

Cryptocurrency Investment Advice: Rational Approach to Market and Risk

I’ve been running my blog for almost two years now, and I’ve seen many stories. Some people get rich overnight in the cryptocurrency market, while others lose everything in a short time. Although I don’t have a large number of subscribers, tens of thousands of people read my articles every week. I believe my views must have some influence. I also think it’s easy to be swayed by others in the path of investment, and even I entered the crypto market influenced by others.

Cryptocurrencies have been highly volatile since their inception, with the least volatile ones undoubtedly being the big brother Bitcoin and the second brother Ethereum. I’m not including stablecoins here. Imagine that even if I’m very knowledgeable about a certain altcoin, including its history, token mechanics, development team, etc., I can’t bear the risk of the project collapsing. Do you understand what I mean?

Actually, I care a lot about my image. Every time you leave comments, if they are encouraging or well-intentioned, I am grateful. I try my best to reply to every comment. But if someone loses money because of something I said, correspondingly, I would also feel very down, as if I had harmed someone, even though I always emphasize that the content does not constitute investment advice and that losing money is not my responsibility. To be honest, I do care about this.

So, if I chose an altcoin like SOL and occasionally mentioned its historical background, token mechanism advantages, and team’s closeness in the blog, and then promoted “SOL Forever” every day in social groups, do you believe a large number of people would start buying? If my SOL holdings soared in two years and the followers made money, that would be great. But if someone followed me and invested thousands in SOL, and then it went to zero overnight, it would be a blow I could not bear.

Cryptocurrency Investment Advice: Unpredictability of the Long-term Market

Even if I speak well, people are realistic. If they don’t make money or lose big, naturally they will attribute the responsibility to the recommender. LUNA and FTT have both undergone the process from peak to trough, and I witnessed their collapse right in front of my computer. Don’t disbelieve; any cryptocurrency has the potential to go to zero, especially those altcoins where the development team holds a large portion of shares. If they ever decided to “rebel,” they certainly wouldn’t inform you.

Of course, I believe many of you will still invest in altcoins despite what I say. So for those friends who have invested, I am personally more optimistic about the following cryptocurrencies in 2024. Please remember, this is just my personal view; I don’t know how much they can rise, but I think at least these coins won’t be too bad in the market. Is there a possibility of them going to zero? Of course, so please don’t rush to buy as soon as I finish speaking. These cryptocurrencies look quite promising, and I’ve seen the technical analysis; you may continue to hold them.

Cryptocurrency Investment Advice: Different Coins and Investment Analysis

INJ: A Potential Defi Protocol

The first coin to watch is INJ. You might be curious, what is this coin? Why do so few people discuss it? In fact, INJ really has considerable potential. Back in 2018, Injective was incubated at Binance Labs; it’s a Defi protocol built for financial services, also a blockchain designed for the financial industry. We all know that a Bitcoin spot ETF is on the verge of approval, and the traditional financial industry is eager to integrate with the blockchain industry, which will certainly need a bridge. Injective is quite dazzling in this field. Although its market value is not top-notch, looking at its K-line chart, it has a good momentum of development and some connection to AI. Recently, Injective also collaborated with Google to integrate its blockchain data into Google Cloud, showing its open and enterprising team spirit.

XRP: An Established Coin with Stable Growth Amidst Fluctuations

Next is XRP, a coin that once created a thousand-fold increase miracle. It started at just 0.002 and soared to 2.782. After stablecoins, XRP’s market cap is right behind Ethereum’s. Its history is long-standing since it was born in 2013 and has gone through countless storms. XRP is issued and managed by the American tech company Ripple, starkly different from the decentralized nature of most blockchains. What makes it unique is that a massive amount of XRP tokens are still in the hands of Ripple, making its issuance model distinct. Nevertheless, the robust background of Ripple has enabled it to withstand all kinds of storms. Whether it’s the frequent legal battles or the contest with the SEC, Ripple remains resilient like a Weeble, and the price of XRP has also increased significantly due to its legal victories. Personally, if you are an XRP supporter, it seems that as long as its price can break through certain key points, it’s worth continuous attention and holding. In the long term, the potential to break through the resistance above still exists.

Tellor (TRB): The Rising Star of Decentralized Oracles

Finally, I want to mention Tellor (TRB). Although its price has gone high, Tellor, as a decentralized oracle of the blockchain, continues to attract attention. Oracles play an essential role in today’s cryptocurrency world, serving as a bridge between the real world and the blockchain, they bring external information into the decentralized networks. There are many projects related to oracles on the market, but Tellor stands out due to its more decentralized nature. If you have already invested in TRB, pay close attention to its future performance. There is still room for growth expected in 2024. I would like to emphasize again, despite the potential in certain altcoins, overall, I still recommend Bitcoin and Ethereum as long-term investment choices. The stability and potential of these two kinds of coins are not to be overlooked.

If you find this article helpful, please don’t hesitate to like it. If you have any other cryptocurrencies that you are optimistic about, feel free to share in the comments section. I will continue to share more valuable content in the future, so stay tuned. Farewell, friends, and I’ll see you in the next article!