Discuss strategies for buying analyst dip

Despite the historical bullishness, the beginning of October is predictable. Commonly dubbed “Uptober” by crypto enthusiasts for its strong performance, this month has seen major disruptions.

The violence stems from the escalating geopolitical conflict between Israel and Iran, which was exacerbated by a major missile attack on October 1 – the second such incident this year.

Analysts believe that the season of Altcoin is near

This geopolitical clash has injected uncertainty into global markets, resulting in more than $500 million in liquidity, affecting cryptocurrencies. Nevertheless, some experts see these disruptions as hiccups ahead of the altcoin season.

“Altcoin is not going anywhere. The market is shaking. People are being tested. This is like any other test. You have to pass,” said crypto analyst Altcoin Buzz.

Read more: 11 Cryptos to Add to Your Portfolio Ahead of the Altcoin Phase

Renowned crypto analyst Miles Deutscher has outlined strategies for buying during dips in response to market declines. According to Deutscher, the main thing is to focus on the previous leaders.

“It's really easy because we had a sample size from the market. The market gave us data on the old coins that were flowing last week when things were very busy, so what you want to do is pick leaders in the recent rally,” he explained.

Deutscher believes that meme coins and AI tokens have been at the forefront of the market for the past two weeks. Therefore, when the market recovers from this downturn, expect these sectors to be the strongest performers again.

In particular, Deutscher mentions Dogwhistle (WFF), Pepe (PEPE), PopCat (POPCAT) and Mog Coin (MOG). He points to Phantom (FTM), which has shown remarkable strength during the current market meltdown. Despite this, Deutscher continues to maintain his position in stablecoins as a hedge against further decline.

“The real alpha here is to make sure your watchlist is preformed based on relative strength. If the market drops further, you know exactly what to buy and you're mentally prepared to avoid panicking and scoffing, Deutscher said.

He advises using price-aggregation platforms to track high performers on a daily basis, which can lead once the market continues to move.

Read more: 7 Hot Meme Coins and Altcoins Trending in 2024

Other analysts echo the sentiment that the altcoin era is just around the corner.

“Altcoin season is closer than ever. Despite the recent Middle East conflicts, Uptober is still Uptober. I'm going to start swapping more Solana (SOL) and Ethereum (ETH) with memories and promising alts that I expect to make 5-10x returns,” crypto researcher 0xFinish pointed out.

In fact, by developing a strategic watchlist and understanding the relative strengths of various altcoins, investors can take advantage of potential market recoveries. As always, vigilance and preparedness are key to seizing opportunities in changing times.