Crypto expert Miles Deutscher has tackled the soaring expectations surrounding altcoins, urging investors to approach the market cautiously. Miles explained that many are exciting altcoins, promising huge returns like 100 times the money. But he thinks that’s unrealistic, especially for well-known cryptocurrencies like Bitcoin or Ethereum. He said the more a coin is worth, the harder it is to grow much more.
Instead, Miles suggested looking at newer, smaller coins in areas like online gaming, artificial intelligence, and finance. These smaller projects might have more room to grow. In discussing altcoin sectors with promising potential, Miles pointed to specific projects like Axie Infinity in the crypto gaming space and layer one blockchain infrastructure projects such as Solana and Cardano
Regarding Layer 1 tokens, he expressed interest in AOS due to its ties to the DPIN narrative, which he believes will drive demand for computing resources. Similarly, Zeta Chain and Alium caught his attention for their potential within the Layer 1 space, albeit with varying degrees of risk.
Beyond gaming and Layer 1 tokens, he sees promise in the AI sector for significant gains. Despite current valuations, he believes the AI sector will grow substantially, especially with upcoming protocols focused on AI and deep learning. Projects like AIT, ZRX, and Pal are on his radar,
Explaining the timeline of Bitcoin bull markets, Miles drew attention to the average duration from the break of its all-time high to its peak, which historically spans around 300 days. Speculating on potential scenarios, he suggested a possible Bitcoin peak by January 2025, although acknowledging uncertainties in market cycles.