Famous st and crypto trader Alex Kruger urges crypto investors to focus on specific altcoin projects like Ethereum (ETH) rivals when the market is in a bearish trend. In this article, let’s take a look at Kruger’s current analysis and expectations for January.
Alex Kruger details his analysis of altcoins
Alex Kruger, whose analysis we shared as Cryptokoin.com , has Cosmos (ATOM) and Phantom (FTM) to 107,500 Twitter followers He says that there are some of the altcoin projects that could attract attention in January. Fantom is a scalable, smart contract-enabled Blockchain that is valued more than 13,000% over a one-year period. Cosmos is an ecosystem of parallel Blockchains that can communicate in a decentralized way. st also says that January sentiment will depend on upcoming employment and inflation statistics:
focus on a few altcoin projects like ATOM and FTM. Their performance for January will depend on the data. If we see strong payrolls on Friday and higher-than-expected inflation on Wednesday, markets may panic.
- Kruger adds that although he doesn’t expect a “rise for January”, he will “revisit” the market when the funding rate is “less negative”.
The funding rate is a periodic payment that crypto investors make between each other to ensure that spot prices are as close as possible to the perpetual futures contract price. A funding ratio above zero indicates an upward trend, while a funding ratio below zero indicates a downward trend. st also says that a complete divergence in crypto markets is unlikely. Divergences occur when the yields of Bitcoin (BTC) and other associated cryptocurrencies stop moving in line with expectations. However, Kruger thinks that a complete divergence is not possible:
Temporary divergence is seen only when BTC moves sideways or sometimes buys in a sharp decline. The correlations between cryptocurrencies are very high and will remain so for a long time. The idea of full parsing is a mirage that the wealthy like to entertain in their spare time.