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Analyst Nicholas Merten: Prospects of Altcoins Amid Reduced Market Capitalization

Sep 23, 2024
  1. Stacks – Riding Bitcoin’s Strength
  2. Render – Tied to the AI Boom
  3. Fetch.AI – Midcap AI Project with Room to Grow

Even though Bitcoin is not at all-time highs, many altcoins are discounted from previous valuations, making this a good time to spot emerging players.

Stacks – Riding Bitcoin’s Strength

Stacks is a project that connects with Bitcoin, allowing smart contracts and decentralized apps to run on the Bitcoin network. As Bitcoin strengthens, Stacks could benefit. Historically, Stacks has seen cycles of quick gains, and analysts believe it could rise by 130% to 150% or even 250% from its lows.

Render – Tied to the AI Boom

Render is another altcoin that has performed well and is closely linked to AI technology. It has been showing positive movement by forming higher lows and approaching key resistance levels. The overall AI trend could boost Render even further.

Fetch.AI – Midcap AI Project with Room to Grow

Fetch.AI is an AI-focused project that has been one of the best performers among midcap altcoins recently. It performed well during the market pullback and has since risen significantly. Even after this rise, Fetch.AI still has room to grow.

The reduction in altcoins market capitalization signals opportunities for investors. Under such conditions, it's important to pay attention to projects that could benefit from current trends, such as Stacks, Render, and Fetch.AI.

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