October, traditionally a strong month dubbed "Uptober" by crypto enthusiasts, is encountering disruptions due to geopolitical tensions, particularly between Israel and Iran, impacting cryptocurrencies with $500 million in liquidations.
Despite these challenges, analysts see potential in the altcoin market. Pseudonymous analyst Altcoin Buzz emphasizes that these market disruptions might lead to an altcoin season, urging investors to hold their ground during this market shakeout.
Prominent analysts like Miles Deutscher suggest focusing on meme coins and AI tokens, observing their strong performance in recent rallies. Deutscher names specific coins such as Dogwifhat, Pepe, Popcat, Mog Coin, and Fantom, as potential leaders, while maintaining stablecoins for safety.
Deutscher emphasizes the importance of a pre-prepared watchlist based on relative strength. By being prepared, investors can avoid panic and make informed buying decisions during downturns. Price aggregator platforms can assist in identifying daily top performers.
Other analysts, like 0xFinish, also point towards an impending altcoin season, asserting that swapping major cryptocurrencies like Solana and Ethereum into promising altcoins might yield significant returns.
The article reinforces the necessity for strategic planning and vigilance, suggesting that understanding altcoin strengths can provide investors with opportunities to profit in volatile markets.
