DeFi altcoins have performed better compared to other categories even during recent declines. DaanCrypto expects these coins to yield higher profits when the rise begins.
Washigorira predicts that Bitcoin could move towards the target of $135,000 if it makes closing above $107,000. On the other hand, AskCryptoWealth marked $190,000 as the target for this cycle.
The king cryptocurrency Bitcoin, despite exceeding the $108,500 level, could not provide the expected support and is currently finding buyers at around $107,500. Most altcoins have given back their gains, and more volatility is expected in the new week. So, which altcoins will stand out when the rise starts again?
Certain categories stand out in every market period and perform better than the overall market. If we recall the year 2021, metaverse and NFT tokens caught attention at the beginning of the year, while layer1 solutions also stood out. Additionally, meme coins like SHIB and DOGE provided surprising gains during that period.
So where is the excitement in the market right now? With the rapid increase in institutional adoption, the previously lagging DeFi sector under the Biden administration has regained its allure. In the first quarter of this year, DeFi projects performed the best, and according to current data, this trend continues.
DaanCrypto recently stated in an analysis that DeFi altcoins are still performing above the market average. Additionally, he mentioned that in a possible new upward trend, DeFi projects have the potential to provide higher returns than others.
“In recent months, we have witnessed the superior performance of the DeFi sector among altcoins. This situation arises from the reduction of stablecoin hype and the overall weakness of altcoins, leading investors to turn towards more solid, income-generating utility coins. I believe this is a healthy development, and when risk appetite returns, such projects will perform even better. DeFi should be a leader not only in declines but also in rises.”
Bitcoin (BTC) Targets
Although the situation looks bleak, Bitcoin is still trading at six-figure prices, which were once considered a dream years ago. Investors are still becoming as hopeless as they were during times when the expectation was to surpass $20,000. In the cryptocurrency market, prices are relative; perhaps years later when BTC has dropped from $500,000 to $240,000, we may see that closes below $235,000 are interpreted as a disaster.
Washigorira, as one of the analysts providing positive energy to the markets, thinks that if the closes above $107,000 continue, Bitcoin could rise to $135,000. AskCryptoWealth, meanwhile, emphasized the target of $190,000 in their analyses, stating that the price is on the right track and will definitely reach this level in this cycle.
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