Cryptocurrency analyst Alex Saunders is providing ideas to traders probing the crypto markets for altcoins with the potential to surge 100x.
In a brand new interview with Austin and Aaron Arnold of Altcoin Daily, Saunders tells the pair’s 719,000 subscribers that one of many first issues he seems to be for when researching a crypto undertaking is whether it is led by a strong group of people.
Saunders mentions RedFOX Labs (RFOX), which has already appreciated by 2,263% from $0.011 in October to its present worth of $0.26, as a undertaking he’s invested in that has a top quality administration crew in place.
“I’ve received actually a cheat sheet, guidelines that I type of undergo. [RedFOX Labs] was a superb robust crew, I knew one of many leaders personally.”
The crypto analyst additionally favors initiatives which are serving an untapped market somewhat than these working in saturated subsectors.
“So [RedFOX Labs is] primarily based in Vietnam. So once more, that Asian area is simply quick rising, excessive cellular utilization. They’re identical to begging for the Ubers and Airbnbs and all these apps, you recognize. The digital economic system there may be simply booming.
So that’s a giant area that’s simply free to be disrupted, extra so than attempting to go in and acquire market share and customers in America. A, there’s nobody there already and B, the inhabitants’s means larger so there’s big alternative there.”
A well-diversified enterprise is essential, in accordance to Saunders, as illustrated by RedFOX Labs which has a presence in niches equivalent to non-fungible tokens (NFTs) and decentralized finance (DeFi).
“…[RedFOX] are in gaming and NFTs, [which] is form of their preliminary focus. It’s taste of the month for the time being within the crypto world. They’ve received the DeFi facets to it. Then you’ve received, as I mentioned, I don’t know many initiatives that have gotten that multi type of narrative or subsector potential.”
Saunders provides {that a} low valuation is essential because it leaves loads of headroom for the value to improve.
“And whenever you have a look at one thing that’s a $300,000 market cap if you happen to discover something that’s, you recognize, in all probability today below $10 million, and also you suppose it’s a fairly good high quality undertaking… they’re type of issues that I look to spend money on as a result of all it requires is for different individuals to discover out about it.”
The cryptocurrency analyst, nonetheless, warns in opposition to investing in initiatives which have already rallied massively.
“I really inform individuals not to ever purchase one thing that’s gone up 100X or 1,000X since you’re beginning to get fairly late to the social gathering at that time.”
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