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What altcoins to invest in right now?

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What altcoins to invest in right now?

The collapse of bitcoin quotes in May provoked a decline in the rate of altcoins. Bitxmi experts explained how to choose digital assets to buy despite the crypto market correction.

Over the past month, Bitcoin has fallen in price by almost 5%. Altcoin quotes also declined. Ethereum fell 13% over the same period, Binance Coin lost 20%, and Cardano’s value fell 14%. BitXmi experts have named the tokens that look promising for purchase at the moment.

The basic tenet of portfolio theory is to add assets with the least correlation among themselves. It is not easy to apply this principle in the cryptocurrency market, as bitcoin often has a strong influence on other coins.

The assets that correlate the least with bitcoin are, first of all, coins that have positive internal events: blockchain updates, smart contracts launch, development of exchange services, etc., experts explain. They referred to such tokens as Ethereum and Cardano.

At the moment, Cardano and Polkadot are the most promising projects, since if the roadmaps are successfully implemented, they have real chances to become a competitor to Ethereum. Analysts also predicted that Polkadot could rise in price in the near future due to the introduction of parachains. And the most underestimated moment of analysts considers Litecoin.

Bitxmi experts also advise you to pay attention to projects such as Solana and Compound. According to them, the fall in Solana quotes after the collapse of the crypto market slowed down, and the Compound rate had already turned around and the coin began to recover its value.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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