YouTube’s biggest crypto analyst and trader Nicholas Merten just released his pick of the top 10 coins to watch in 2020.
Merten says he believes many altcoins that plummeted in value back in 2018 will never recover, using the dot com bubble as an example.
“If the dot com bubble teaches us anything, many of the names we have today will not be around in years time. To put it simply, don’t chase after coins or tokens that are down 98 to 99% from their all-time highs simply because they’re at a discount. Many of them will never come back.
Look for players who have either kept up with Bitcoin or held strong through the bear market. And though it seems this market is anything but fundamental sometimes, look for projects with legitimate demand in token models that will benefit if the network is being used. Projects will likely need this to draw serious institutional and user adoption. Not to mention, if the blockchain platform really does have utility that can be adopted and used, there should be proof of it inside the token price…
History tells us that the last two [altcoin rallies] were at periods where money was exiting out of Bitcoin. One, where we revisited the previous highs of $1,100 and when we set out all-new highs at $20,000. Our best guess is that it will happen sometime slightly before or after we revisit $20,000 for Bitcoin’s price and altcoins have truly felt the pain with Bitcoin dominance overextended.”
Merten’s picks for 2020 are as follows.
8. Enjin Coin
2. Basic Attention Token
You can check out Merten’s deep dive on the projects below. Merten warns traders that anything can happen, and people should do their own research before investing in the extremely risky crypto market.