3 Altcoins To Sell Now To Prevent Massive Losses in January 2025

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As a seasoned researcher with over two decades of experience in the ever-evolving world of cryptocurrencies, I have seen my fair share of market highs and lows. The recent bearish trend has left many investors feeling the pinch, including Bitcoin dropping below $95,000 – a stark reminder that even the mighty can fall.

In the past few days, the cryptocurrency market has experienced a significant decline, pushing Bitcoin down below $95,000. This bearish trend has negatively affected many altcoins, causing large-scale sell-offs. Here are three altcoins that investors might want to consider selling now to minimize potential losses in January 2025, as they seem to be following current market patterns.

Altcoins To Sell : Bitget Token (BGB)

The Bitget Token (BGB) plays a crucial role within the Bitget digital currency exchange. Introduced in July 2021, this token allows users to cover service costs, earn rewards through staking, partake in social trading, and enjoy reduced transaction fees. Furthermore, BGB holders can interact with the exchange’s launchpad and launchpool projects.

As an analyst, I’ve observed that Bitget has implemented a strategic token burn program every quarter, aimed at reducing the circulating supply of BGB tokens and maintaining a deflationary economy. This is done by buying back BGB tokens and removing them permanently from circulation. After a notable increase in value over the last two days, the price of Bitget Token has dipped to $7.54, representing a 10% decrease within the past 24 hours. The current downward trend hints that BGB might be one of the altcoins to consider selling promptly to minimize potential substantial losses by January 2025.

TL;DR of the updated #BGB Whitepaper:

Reducing Circulating Supply through BGB Buybacks and Burn Strategy: This refers to the process of reducing the number of BGB in circulation by buying back tokens from holders and destroying them, also known as “burning.

Learn more:

— Bitget (@bitgetglobal) December 27, 2024

Helium (HNT)

Helium Network (HNT) runs a distributed blockchain system tailored for Internet of Things (IoT) gadgets. Ever since its primary network debut in July 2019, it allows low-power devices to establish connections and share data using numerous nodes across the globe.

As a seasoned crypto investor with over a decade of experience under my belt, I’ve seen numerous market fluctuations, and the current state of Helium (HELIUM) has caught my attention. At present, HELIUM is trading at $6.46, marking a 7% decrease in the last 24 hours. This downward trend is concerning, as it follows a 10% drop this week for HELIUM. If this negative trajectory persists, I believe HELIUM’s price could potentially fall to $4.

FTX Token (FTT) 

The main digital currency for the FTX cryptocurrency derivatives exchange, known as FTX Token (FTT), operates on this platform that started functioning on May 8, 2019. However, it should be noted that FTX filed for Chapter 11 bankruptcy protection in the U.S. on November 11, 2022, and legal proceedings are ongoing. Therefore, it is essential to handle the FTT token with care due to the uncertain state of FTX.

Currently, FTT is experiencing a drop in value, placing it among the top declining assets on CoinMarketCap. The current price of FTT stands at $3.26, representing a 6.33% fall compared to the previous 24 hours.

To summarize, given the ongoing turbulence in the cryptocurrency market, it might be prudent to sell certain alternative coins. Making these changes is important for avoiding potential financial stress, mirroring the widespread pessimism permeating the crypto sector.

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2024-12-28 18:50