CriptoFácil has already listed some cryptocurrencies that analysts believe may appreciate in June. Now, experts point to digital assets to “run away” this month, as they may not represent good investment options.
For this analysis, Finbold’s Ana Nicenko considered various cryptocurrency market rankings, historical price trends, and the latest developments (or lack thereof).
With that, she came to the conclusion that “it would be prudent to avoid getting involved in June 2023” with Kusama (KSM), Mina (MINA) and Bitcoin Gold (BTG).
Kusama (KSM)
First, Nicenko talked about Kusama. For the analyst, “unfortunately” the cryptocurrency is on the “to avoid” list mainly due to its low ratings. According to Weiss Crypto Ratings (WCR), KSM is rated “E-” or “very weak” in terms of adoption and technology and “D+” or “weak” in terms of performance.
Additionally, the cryptocurrency has a “CC” rating on Wikirating’s Crypto Rating Index (CRI). This indicates that the cryptocurrency is “currently highly vulnerable” to crashes.
At the moment, Kusama is priced at $26.28, according to data from CoinGecko, having appreciated about 5% over the last week.
Mine (MINE)
Secondly, the analyst said that MINA is not a good investment option for the month of June. This is because the cryptocurrency is also having bad ratings. The CRI, for example, awarded a “CCC” score, suggesting that this crypto asset is “vulnerable and dependent on favorable commercial, financial and economic conditions to remain valuable”.
Meanwhile, the WCR assigned MINA a score of ‘E’ or ‘very weak’ for technology/adoption and ‘D+’ for market performance.
“Despite announcements of a new zero-knowledge (ZK) regulatory compliance tool for the DeFi and Web3 spaces, MINA has accumulated a loss of 15.67% over the last 30 days,” he highlighted.
At the time of writing, MINA is priced at $0.54, having lost 2.6% over the past 7 days.
Bitcoin Gold (BTG)
Finally, the analyst mentioned Bitcoin Gold (BTG). The cryptocurrency has earned a “CC” (highly vulnerable) score from both Wikiratings and TokenInsight.
In addition, the WCR gave BTG a “C-” or “fair” rating, which investors can interpret as “avoid” or “hold”. Bitcoin Gold also earned a “C” rating for technology/adoption and a “D+” or “weak” rating for market performance.
Right now, the BTG token is changing hands at $12.78, according to data from CoinGecko. Over the past seven days, the token price has risen by 0.7%.
