- Market analyst CryptoBullet predicted that altcoins will bottom out as 2023 draws to a close.
- The analyst advised users to move their crypto assets to stablecoins to guard against a possible altcoin drop.
- Major altcoins have declined amidst a broader crypto market drop in the past 24 hours and week.
Amidst a market downturn for major altcoins, crypto trader and market analyst CryptoBullet, in a post on X – formerly Twitter – warned the crypto community that the worst is yet to come. The analyst said altcoins will bottom out in what many already exclaimed to be a bullish October.
CryptoBullet continued by advising users to prepare their stablecoins in the last quarter of 2023. Compared to other cryptocurrencies, stablecoins shield against market volatility, which explains why people use them as a safety net asset during market slumps.
Meanwhile, the analyst made similar predictions for the world’s largest cryptocurrency network, Bitcoin, earlier this month. While Bitcoin surged above the $28K line, much to the crypto community’s excitement, CryptoBullet argued that the token could still bottom out to $20K.
He stated that the brief rally by the toke…
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