Bitcoin seems to have failed in the push back above $4000 in its latest upside push. This means there is a real risk that it could be headed much lower. In such a case, altcoins are likely to crash even further than they have at the moment. Considering that most altcoins don’t have any real fundamentals supporting them, there is a good chance that they may never recover even in a scenario where Bitcoin (BTC) stabilizes again. As such, it is essential for investors to choose altcoins wisely. While it’s not possible to call with certainty the altcoins that are likely to make it big, there are some whose fundamentals give them a strong chance of recovery and possibly rally big time in the future. Two of these altcoins are Dogecoin (DOGE) and Litecoin (LTC). Here are some of the reasons why these two could be set to shine.
Litecoin (LTC) has corrected a little bit in the last 12-hours from a high of $60 on some exchanges, to a low of $55 as at the time of writing. However, technically, Litecoin (LTC) is still one of the cryptos that are in a recovery stage, or in an early bull’s stage. Not only is it up by over 100% this year, but it has also broken key resistance and held above it. This is in spite of Bitcoin not showing any major upside momentum. This is an indicator that Litecoin has what it takes to shine big, in case of a whole market rally. One factor that gives Litecoin (LTC) the potential to shine is the halving in August. Litecoin (LTC) is a major coin, and the halving news is big. As such, there is excitement in the market that the halving could have a huge impact on the price. In essence, as we get closer to the halving, demand could continue to rise. There is also the fact that Litecoin (LTC) is gaining in adoption, with the pay with Litecoin campaign gaining ground over time. As such, the value of Litecoin (LTC) could grow significantly, which makes it a high potential investment, even if it corrects further from its current price levels.
Dogecoin (DOGE) is another crypto that investors need to keep an eye on going forward. For starters, Dogecoin (DOGE) has proven that it has utility, which lacks in a significant section of the altcoins market. That’s because, unlike most altcoins, this crypto has actual usage and is top 5 in terms of cryptos being used for real-world transactions. This means that in a worst case scenario, where the market plunges further, Dogecoin (DOGE) could be one of the altcoins that survive and thrive when things get better again. On top of that, its high levels of adoption mean that Dogecoin (DOGE) will continue to become more stable, creating a multiplier effect in terms of its adoption. This could see its value grow significantly in the next Bull Run.
These two cryptos have a good future, so long as crypto adoption continues on its current trajectory of growth.