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The host/analyst of ‘The House of Crypto’ took to his latest video and explained how the markets are structured to encourage retail investors to make poor decisions. Typically, after a bear market, the market enters a phase of depression where investors think it’s all over. Then, hope and excitement rebuild, as seen at the end of last year and the beginning of this year. However, a shakeout phase often follows, causing many to lose hope again. It is right after this shakeout that the biggest opportunities arise.
He stresses not to buy coins that have already pumped majorly. Instead, he said to focus on those that are currently undervalued and have good long-term potential. For example, coins like Avalanche, Fetch ai, and Akash Network, which have dropped substantially, now present good buying opportunities.
He warned against chasing quick riches by investing in hyped-up coins like Brett and Jasmy, which are already in a high-risk, high-reward phase. Instead, he advised looking for coins that have fallen out of favor and are now in a downturn, as these often present better buying opportunities.
Potential buy zones, patterns and pullbacks
As an example, he discussed Beam and how it had experienced a significant 58% shakeout since its peak around March 11th, coinciding with Bitcoin’s initial high of the year. This drop presents a potentially attractive entry point for those looking to capitalize on future bullish trends.
He opened up about the volatility in the market, pointing out that coins like Pyth Network had seen tremendous hype, with a 19x increase in value followed by a steep 71% decline. Despite the initial excitement, interest waned as the price fell sharply.
To identify potential buy zones for such coins, he recommended looking for major price pullbacks where previous large green candles occurred. These areas often indicate strong support levels where buying interest might return. For instance, Pyth fell into one of these buy zones after its drastic drop.
He once again warned against chasing after the latest hyped coins that everyone is talking about, as they often come with higher risks and inflated prices. Instead, he advised focusing on projects that have been overlooked or fallen out of favor despite their potential, such as those in AI and gaming sectors.
