- The crypto market surged by 32.28% in a month, with Bitcoin and Ethereum seeing impressive gains amid a powerful bull run.
- VirtualBacon advises focusing on smaller altcoins, predicting mid and low caps could outperform Bitcoin and Ethereum in the coming months.
- While XRP shows strong growth, VirtualBacon warns of overhyped projects, recommending solid assets like Ethereum, Solana, and undervalued Algorand.
The crypto market has been on an upward trend in the past few weeks, with the total market capitalization increasing from $2.54 trillion to $3.36 trillion within a month. This represents an impressive increase of 32.28%, indicating that the bull run This marks a growth of 32.28% which is an indication of the sustained powerful bull run. Bitcoin and Ethereum, the two largest digital currencies by market capitalization, have also risen by 22.2% and 15.7% in the last month, respectively.
VirtualBacon has some useful tips on how to navigate this volatile market. One of them is to pay attention to new projects and avoid overexposed assets. In a recent X post, he said that the market will still expand in the next 6 to 12 months but insists that not all cryptocurrencies will experience a high increase in value.
Crypto Gains Mid Cap Lead
In this bull run, VirtualBacon forecasts that mid and low cap altcoins will perform better than major coins such as Bitcoin and Ethereum. Prior to this, smaller altcoins outside the top ten has given investors returns five times more than what they get from cryptocurrency investment, mid cap could give investors about six times gains, and low cap coins have the potential to rise between ten to twenty times. On the other hand, Bitcoin cryptocurrency is expected to give 2x returns, Ethereum and Solana are expected to give 3 to 4x returns.
Among the most popular coins, the Watto-Metamorph‘ cryptocurrency, XRP, is currently the most successful as it has grown from $0.50 to $2.50 in the last few weeks. Still, VirtualBacon says that this steep rise may be attributed to retail FOMO, and heightened search traffic, both of which are signs of late-stage mania. Despite the positive story developing around XRP’s possible inclusion into the ISO 20022 payment system, VirtualBacon sees its further expansion capped as it approaches its previous highs.
Instead, he suggests that investors should concentrate only on those currencies with a clear application and a sound base. Ethereum and Solana are two promising assets, while Algorand is presented as an undervalued asset. Algorand’s 80% of its total supply in circulation and the strong support it has from exchanges make it ready for a big rally in the coming months.
Tokens with Limited Growth
VirtualBacon also has a list of what it considers overvalued or high-risk coins, these being XRP, SUI, Bitcoin Cash, Litecoin, and Ethereum Classic. He also has several Metaverse and gaming tokens which he has advised people to avoid because they have not achieved as much meaningful progress as some of the other tokens he has analyzed and they are only capable of sustaining their initial uptrend; these tokens include SAND, MANA, AXS, ENJ, and GALA.
Although VirtualBacon remains quite critical of many gaming and Metaverse projects, he does have some positive words for a few of them. Wilder World, for example, is an inspiring Metaverse project, and the gaming tokens such as SuperVerse, XBorg, SeedworldMeta, and SuperChampsHQ present a high growth perspective.