Crypto analyst Josh Rager says he’s patiently waiting for Bitcoin to prove it’s hit a bottom before placing any buy orders.
Rager tells his 100,000 followers on Twitter that the crypto market’s rapid descent is likely not over yet.
“This is why it can be wise to wait. BTC broke a daily level so continuation down, along with bounces in between, can be expected…
Not worried about catching the bottom. Not going to rush into alts or buying more spot BTC or ETH yet.
Happy to buy at a slightly higher price after confirmation of bounce or reversal. Nothing worse than buying something and watching it continue to go lower.”
Rager says Bitcoin may have a lot more room to fall, but won’t sink below the $19,000 level.
As for the altcoin market, Rager is responding to a query from Real Vision CEO Raoul Pal, who’s asking crypto Twitter to pitch their favorite altcoins.
“Danger! I’m going to add a basket of 10 alts to my BTC and ETH bets, using this dip.
Shill me your coin but with a quality paragraph WHY I should look at it. My knowledge base is low, so treat me like the idiot I am (nicely).”
Rager tells Pal he’s bullish on ten DeFi “blue chip” assets, meaning he believes the projects could play a fundamental role in the future of the industry.
Rager names the yield aggregator Yearn.finance (YFI), exchange token SushiSwap (SUSHI), exchange token Uniswap (UNI), non-custodial money market protocol Aave (AAVE), synthetic asset token SNX, lending token Compound (COMP), exchange liquidity token Curve DAO (CRV), cross-chain platform Alpha Finance (ALPHA), cross-chain platform THORChain (RUNE) and the data feed provider Chainlink (LINK).
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