Run away from these cryptocurrencies in June

CryptoFácil has already listed some cryptocurrencies that analysts think could rise in June. Now, experts are pointing to digital assets to “run away” this month, as they may not be good investment choices.

For this analysis, Finbold’s Ana Nicenko looked at various cryptocurrency market rankings, historical price trends, and the latest developments (or lack thereof).

In doing so, I 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, Niseenko spoke 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 Poor” in terms of adoption and technology and “D+” or “Poor” in terms of performance.

In addition, the cryptocurrency has a “CC” rating on Wikirating’s Crypto Rating Index (CRI). This indicates that the cryptocurrency is “currently extremely vulnerable” to a crash.

Right now, Kusama is at $26.28, according to CoinGecko data, after its value rose about 5% in the past week.

mine

Secondly, the analyst said that Mina is not a good investment choice for June. This is because the cryptocurrency also has bad ratings. For example, CRI has a score of “CCC,” indicating that this crypto asset is “vulnerable and reliant on favorable business, financial, and economic conditions to remain valuable.”

Meanwhile, WCR gave MINA an “E” or “very poor” grade for technology/adoption and a “D+” for market performance.

“Despite the announcement of a new Regulatory Compliance Tool (ZK) for the DeFi and Web3 spaces, MINA has accumulated a loss of 15.67% over the past 30 days,” he explained.

At the time of writing, the MINA price is at $0.54, having lost 2.6% over the past seven days.

Bitcoin Gold (BTG)

Finally, the analyst mentioned Bitcoin Gold (BTG). The cryptocurrency has a “CC” (very poor) grade from both Wikiratings and TokenInsight.

In addition, WCR gave BTG a “C-” or “fair” rating, which investors can interpret as “avoid” or “hold.” Bitcoin Gold also received a “C” technology/adoption rating and a “D+” or “poor” market performance rating.

Currently, BTG is changing hands at $12.78, according to data from CoinGecko. Over the past seven days, the token’s price has increased by 0.7%.