Miles Deutscher forecasts potential 10-20X returns on select altcoins, stressing the significance of Bitcoin reaching new highs to rejuvenate widespread crypto interest. Miles Deutscher Discusses Retail Investor Absence and Altcoins with 10-20X Potential
Deutscher highlights the challenge of restoring fundamental belief in crypto, attributing past investment enthusiasm to pandemic circumstances and recent scandals.
He notes a shift among retail investors toward memecoins, despite genuine developments in the altcoin sector.
Among potential growth sectors, Deutscher points to artificial intelligence and real-world assets, with a particular focus on Tron and the AI project Bittensor.
Aussie analyst Miles Deutscher has revealed in a recent video update which altcoins he believes will take off and potentially make up to 20X in returns. But before that, he posted on X his thoughts on another topic on the minds of many: where is retail?
Oh Retail Investor, Where Art Thou?
In a nutshell, Deutscher says this is important because the return of retail investors is crucial for the bull market to continue. Because so far much of it was fuelled by institutional interest in exchange-traded funds, aka the US Spot Bitcoin ETFs. Most altcoins have not yet reached a recovery stage comparable to their peaks during the last cycle.
You can read more Technology articles
Part of the problem, according to the analyst, is that people had a lot of time on their hands during the pandemic and large crowds started investing in crypto.
And we all know how that story ended: Luna, FTX, 3AC, Celsius, BlockFi and Voyager – these names hardly need any introduction. However, according to Deutscher, this did some serious reputational damage to the industry as a whole.
Of course, with all this, something has fundamentally changed, no not crypto or blockchain itself, but the belief in it.
So, the few retail investors that returned made a beeline for memecoins, sadly, ignoring real development in the altcoin space. Deutscher’s conclusion to what could bring widespread interest back to crypto and altcoins in particular? A new all-time for Bitcoin and the price pushing toward 100,000 USD, nothing less.
Altcoins That Could Go Boom
That leaves the conclusion – not investment advice: that altcoins are a bargain right now. Which brings us back to Deutscher’s suggestions for the next 10-20X projects.
Deutscher believes that Tron still has room to run despite the recent strong gains the network has made. Much of this is based on memecoins and SunPump, especially Sundog, a project Deutscher likes and believes will perform well.
The other sectors Deutscher sees potential in are artificial intelligence (AI) and real-world assets (RWA).
Bittensor (TAO) is a project in the AI space the analyst has set his eyes on.TAO has been trading sideways with the market for much of the past few weeks and has not reached even halfway to its all-time high set in March 2024. Other AI projects on Deutscher’s altcoin list: NEAR, RENDER, PRIME.
Moving to RWAs and one of Deutscher’s bigger positions here is MANTRA (OM), which is a layer-1 blockchain, a permissionless platform for permissioned applications, catering to developers and institutions requiring adherence to strict regulatory standards.Miles Deutscher Discusses Retail Investor Absence and Altcoins with 10-20X Potential
Deutscher says he recently shifted some of his Ondo (ONDO) funds into OM, which he believes has a better price action setup right now.
Follow HiTrend on X
