Crypto Trader Describes His Technique To 'Spot Altcoins Before A 100X Surge'

Pseudonymous crypto influencer "Reflection" unveiled his secrets to spotting low-cap altcoins with the potential to skyrocket in the upcoming altseason.

What Happened: In a thread on X, Reflection highlights the importance of understanding market cycles and investor emotions in identifying promising altcoins.

Biggest altseason in crypto history is near!

People who buy right low-caps will make millions this cycle

It doesn't require 200 IQ, all u need is to find "I'm done" pattern

Here's MEGA-🧵on how to spot alts before 100x surge👇 pic.twitter.com/vPZal42iHU

— Reflection🪩 (@0xReflection) April 24, 2024

He suggests that during major cooling-off phases characterized by decreased trading volume and public interest, investors often feel less enthusiastic or even depressed about their investments.

However, Reflection sees this as an opportunity for smart money to make a move, as buying during moments of fear or pessimism can lead to significant profits.

He cautions against buying when excitement is overwhelming, as it often signals that a peak is approaching. Instead, he advises patience and recommends focusing on coins with good fundamentals, a significant gap between current and potential prices, and a chart displaying the “I’m done” pattern.

Also Read: Trader Predicts ‘At Least 3 Meme Coins Above $100B Market Cap’: Here’s Which Coins Benzinga Followers Liked The Most

Why It Matters: Reflection’s insights shed light on the inefficiencies of the crypto market, where there may be discrepancies between a coin’s actual value and its market indicators such as market capitalization, daily users, and funding.

By focusing on fundamentals and market sentiment, investors can potentially identify undervalued coins poised for growth.

Any cryptocurrency other than Bitcoin is an altcoin, including meme coin leaders like Dogecoin DOGE/USD, Shiba Inu SHIB/USD and Dogwifhat WIF/USD. These align with Reflection’s criteria, as they exhibit strong fundamentals, significant price gaps and patterns indicative of potential growth.

What's Next: The influence of meme coins and Bitcoin as an institutional asset class are topics expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

Read Next: Only Dogecoin And Shiba Inu Have Crossed The $10B Meme Coin Mark: ‘Who Will Be The Third?,’ Muses Crypto Whale

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock