Crypto analyst Credible Crypto believes many of the beaten-down altcoins could offer better risk-reward than Bitcoin (BTC) at current prices.
According to him, projects trading 80% to 90% below their all-time highs may deliver outsized returns if the market turns.
Market Is Building a Base as Attention Moves to Altcoins
Speaking in the July 5 episode of the NinjaTrader podcast, Credible Crypto said that BTC has been in a higher time frame downtrend since hitting its $126,000 peak in October last year. However, he believes the correction is unfolding inside an important support zone rather than breaking the broader bull market.
The analyst pointed to the flagship cryptocurrency’s 2024 consolidation between $50,000 and $75,000, stating that the market has returned to an area where, in the past, buyers have accumulated. And as long as Bitcoin holds above $50,000, he expects the current range to become a base before another higher move.
He also cited on-chain data showing that nearly 80%
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