Alex Krüger: Traders Should Focus Now On Cosmos (ATOM) And Fantom (FTM)
Alex Krüger, a macro economist and trader, suggests that now that the market is in a downward trend, it would be the time to focus on specific crypto assets such as Ethereum (ETH) competitors.
Krüger shared with his 108K followers on Twitter that Ethereum rivals such as Cosmos (ATOM) and Fantom (FTM) are some of the digital assets at the moment to focus on.
I'm not. I'm bullish here though. Revisit when funding gets less negative. Focus on select few names such as $ATOM and $FTM. For January it will depend on the data. If we see strong payrolls on Friday and higher that expected inflation on Wednesday then markets will panic. https://t.co/yYvMfNRMag
Fantom is a smart contract platform providing decentralized finance (DeFi) services to developers using its own consensus algorithm. With its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.
Cosmos is an ecosystem of parallel blockchains that can communicate in a decentralized manner. It aims to make blockchain technology less complex and difficult for developers through a modular framework that demystifies decentralized apps.
According to Krüger, the sentiment (bullish or bearish) for January will be dependent on the upcoming employment and inflation statistics data and what the inflation rates will be next week.
While the economist is not “bullish for January” he will “revisit” the stance when the funding rate “gets less negative.”
Funding rates are periodic payments between traders to make the perpetual futures contract price is close to the index price. A funding rate above zero indicates bullish sentiment while a funding rate below zero indicates a bearish sentiment.
According to Krüger, a full decoupling in the crypto markets is not likely to happen. Decouplings occur when the returns of Bitcoin (BTC) and other correlated crypto assets cease to move in step with expectations.
“Only see decoupling temporarily when BTC is flat or sometimes when an asset gets bought hard on the dip.Crypto intra-correlations are very high and will remain so for a long time.The idea of full decoupling is a mirage fat rich people like to entertain in their free time.”
Only see decoupling temporarily when BTC is flat or sometimes when an asset gets bought hard on the dip. Crypto intra-correlations are very high and will remain so for a long time. The idea of full decoupling is a mirage fat rich people like to entertain on their free time. https://t.co/YXDfH8wU91
