Markets
Cryptocurrency Trading: 3 Ways to Find the Next 10x Altcoins in the 2024 Bear Market
MEME Price Action Book (BOME) | TradingView
The chart above shows how the price of BOME rose 2,542% from $0.0008 at its launch date on March 14 to reach $0.019 on April 2. The price of BOME was trading at $0.008 at the time of writing on July 10, leaving early investors with gains of over 1,000% despite the crypto market correction phase that has occurred over the past 3 months.
This is a clear illustration of how effective the “get in early” strategy can be in the cryptocurrency markets.
Previously, large investors with sophisticated tools and access to crucial market information routinely used this strategy and were often criticized for investing in retail investors as the market matured.
However, licensed platforms like BasedVC now allow communities of traders to invest alongside large institutional firms like a16z, Coinbase Ventures, Animoca Brands, and others.
Since 2023, the team has invested over $65 million in projects such as Heroes of Mavia, Shrapnel, Gunzilla Games, Portal, Tatsumeeko, Chrono Forge, and others, which have generated varying levels of returns.
With multiple service offerings such as venture capital and launchpad, the BasedVC ecosystem has already attracted over 20,000 daily active users, a number that could grow even further as strategic traders start adopting the early entry strategy to ride out the current bear market.
3. Follow-the-Money: Tracking Crypto Whale Buying Trends
Whale tracking is another long-standing strategy that has yielded profitable results for strategic crypto traders over the years. This method involves using on-chain sources to track specific assets that are attracting significant whale demand during a bear market phase.
In the cryptocurrency market, whales are considered large institutional investors, who have highly sophisticated market intelligence and can influence the performance of an asset over time, with their financial strength.
Some on-chain indicators that can be used to track whale buying trends include: large transaction counts, whale wallet balances, and whale transaction alerts.
To illustrate, the IntoTheBlock chart below presents Toncoin’s recent price trends compared to the daily count of Large Transactions (single transactions exceeding $100,000) involving TON.