The collapse of bitcoin quotes in May triggered a decline in altcoins. Experts Explain How To Select Digital Assets To Buy Despite Crypto Market Correction.
Over the past month, Bitcoin has fallen in price by almost 5%. Altcoin quotes also declined. Ethereum fell 13% over the same period, Binance Coin lost 20%, and Cardano value fell 14%. Experts named tokens that look promising for purchase at the moment.
The main principle of portfolio theory is to add assets with the least correlation among themselves, reminded Sergey Zhdanov, CEO of the EXMO crypto exchange. According to him, this principle is not easy to apply in the cryptocurrency market, since Bitcoin often has a strong influence on other coins.
The assets that correlate the least with bitcoin are, first of all, coins that have positive internal events: blockchain updates, smart contracts launch, development of exchange services, etc., Zhdanov explained. He referred to such tokens as Ethereum and Cardano .
According to the expert, at the moment, Cardano and Polkadot are the most promising projects, since if the roadmaps are successfully implemented, they have real chances to become a competitor to Ethereum. Mikhail Karkhalev, financial analyst at Currency.com crypto exchange, agreed with this.
He also predicted that Polkadot could rise in price in the near future due to the introduction of parachains. The analyst added that he considers Litecoin to be the most undervalued coin at the moment .
“In my opinion, $ 140 for a coin that is rightfully considered digital silver is a low cost,” the analyst noted.
Xena Financial Systems CEO Anton Kravchenko advised paying attention to projects such as Solana and Compound .
According to him, the fall in Solana quotes after the collapse of the crypto market slowed down, and the Compound rate had already turned around and the coin began to recover its value.
