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YouTube crypto commentator Nicholas Merten, the founder of highly ranked YouTube channel DataDash, thinks that some of the lesser altcoins could be headed higher in 2020.
According to Merten:
Merten Says Useful Altcoins Are Set to Rally
The first altcoin bull market happened at the beginning of 2017 when BTC pushed up against its (then) all-time-highs at 1,100 USD, and the second took off at the end of that year, as BTC was peaking.
This time Merten thinks that investment capital will flow into projects that have real-world utility.
Where Will the Capital Flow?
There are numerous tokens out there that simply don’t have a solid project that is ready to launch. Merten sees the following three altcoins as being likely market darlings if the next altcoin bull market takes off.
Chainlink had a much better 2019 than many altcoins, and Merten sees it as a viable project. The project seeks to solve the ‘oracle’ problem, which deals with linking blockchains to data from the outside world.
In addition to seeing its LINK token rise in price, Chainlink also cemented a working agreement with tech giant Oracle this year.
Basic Attention Token (BAT)
The BAT token is connected with Brave Software, which is focused on delivering an ad and tracker free internet browser to the market.
According to Merten the token incentive structure rewards all parties involved in the network, including the viewer.
Ravencoin has an innovative platform that allows people to create tokens that are backed by many different kinds of goods and uses the RVN token. The ability for people to use blockchain to trade globally has already become popular, but this could expand the use of tokens substantially.
Merten commented that:
It appears that Merten favors projects that may impact how blockchain is used and may help to expand the number of people who utilize it in their daily lives. For the moment crypto markets seem to be in a consolidation, but if BTC breaks higher, some of the altcoins could follow it up in price.