- Litecoin, Stellar and XRP Have the Highest Profit Potential
- Willy Woo of Adaptive Capital: Bitcoin Wins in Any Case
Finding the right digital asset for long-term investment is an overwhelming process. If you need an asset class that offers a favorable profit potential, know that there are three altcoins with the highest profit potential. The status of the tokens in question has been picked after an analysis of their price trajectory in recent months. It should not come as a surprise that altcoins enter different price movements. Of course, BTC’s movement plays a crucial role in the price action of altcoins. Some altcoins move directly with Bitcoin; others follow the trend when there are price rallies and capitulation events caused by low liquidity.
Ethereum, Monero, and DASH Move in Sync with BTC
One Twitter account, Bitcoin Economics, focused on analyzing the crypto market. The user recently attempted to check top altcoins in the market in a bid to know which of them have the highest profit potential. The user also wanted to determine the altcoin that exhibited similarities to the number one asset class, BTC. While most tokens, including Ethereum, DASH, and Monero, move in correlation with BTC, three virtual coins stood out. These token trades yielded the largest profit potential and they include Litecoin, XRP, and Stellar.
Litecoin (LTC) Price Today – LTC / USD
Name Price $44.73
The Twitter user likened XLM, BTC, and XRP to pump and dump coins. Describing them as tokens with long periods of accumulation and spikes. Hence, implying that they have a good potential for profit. Note that this doesn’t mean that the above altcoins are safe investments. But the fact that they tend to “pump and dump”-is a sign these coins aren’t meant for long-term, predictable investments or short-term swing trades.
Willy Woo of Adaptive Capital: Bitcoin Wins in Any Case
While it may look like a good proposition to go for Litecoin, XRP, or Stellar if you want to generate wealth, another crypto analyst argues that it doesn’t make any sense to put any investments in altcoins. Especially for long-term value investments.
The analyst, Willy Woo of Adaptive Capital, made the remarks in a recent tweet. The analyst said all altcoins are correlated to Bitcoin. Hence, they cannot act as portfolio diversifiers. They only increase portfolio risk. He said.
Woo expanded on his thoughts regarding Bitcoin maximalism from an earlier post. The investor concluded that Bitcoin wins in any case. According to him, BTC is the “only coin” he would invest in for the long term.