Cryptocurrency analyst noted three promising altcoins in the "bear" market

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Cryptocurrency investor and Altcoin Daily co-host Austin Arnold expressed the opinion that Chainlink, Avalanche and Cardano projects are profitable investments in the falling cryptocurrency market.

During his speech on YouTube, Austin Arnold said that when analyzing cryptocurrency projects, he pays attention to five aspects:

by whom and how the project is financed;
whether the team is able to create and develop an effective product;
strength of ties with strategic partners;
to what extent the project is dedicated to solving real problems;
whether these problems will grow with the development of society.

According to Arnold, first on the list of projects,meeting all the requirements, comes the decentralized oracle network Chainlink (LINK). He noted that Chainlink proved to be one of the most resilient projects in the previous bear market. The investor also drew attention to the activity of Chainlink developers and the success of the oracle network in blockchains such as BNB Chain (BNB) and Polygon (MATIC).

The next platform on Arnold's list isAvalanche smart contracts (AVAX). The analyst called Avalanche “one of the best projects on the market” and a competitor to Ethereum. At the same time, in his opinion, the project is effectively different from Ethereum.

“Ethereum is trying to targetdecentralization, while Avalanche focuses on scalability and the maximum number of users attracted by the lowest fees,” the investor said.

Arnold is also "very optimistic" aboutAnother Ethereum competitor is Cardano (ADA). The analyst claims that the Cardano ecosystem is “really thriving” with more than 5 million non-fungible tokens (NFTs) issued on its blockchain.

Previously CEO of Galaxy DigitalMike Novogratz said that given the US Federal Reserve policy and the bearish trend, the market expects another significant drop in altcoins by 70%.

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