The US inflation data shocked everyone in light of the present bear market. The United States published its inflation data for the month of September 2022 on Thursday, October 13, and at 8.2% for the past month, the US CPI was higher than anticipated.
After the data was made public, the cryptocurrency market had a negative response and in a matter of seconds, the whole crypto market dropped.
Additionally, the price of bitcoin (BTC) fell by 5 percent in an instant, reaching a low of $18,400 with each altcoin falling between 4 and 7 percent.
But here are the top three altcoins…
A well-known cryptocurrency analyst has listed his top three altcoins to stockpile before the next bull cycle. The host of InvestAnswers said that there are three crypto assets besides Bitcoin (BTC) and Ethereum (ETH) worth looking at during the current bear market, in a new debate video with fellow analysts Benjamin Cowen and Rob from Digital Asset News.
The primary coins on his radar, according to him, are scaling solution Polygon (MATIC), Ethereum rivals Solana (SOL), and Fantom (FTM), as well as Solana and Fantom. He asserted that, aside from selling assets, the only two things he has bought this entire year were Solana and Bitcoin. Additionally, he said that Ethereum is just so significant that he wouldn’t even classify it as an altcoin.
He further said that from the relative market cap valuation perspective, it is significantly overpriced compared to what it currently performs. However, he likes MATIC, his third choice, based on the information he looked at, including tokenomics and daily active users.
“If I had to pick [a third], it would be Fantom (FTM) because Fantom has the same number of daily active users as Cardano (ADA), but it’s trading at a twenty sixth of the market cap, and it has some pretty good speed and technology and stuff.”