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Trading cryptocurrencies can be challenging due to the volatile nature of the market. However, with every bull cycle, new personalities emerge on the internet, claiming expertise and positioning themselves as top crypto traders.
The truth is that anyone willing to learn can master the basics of technical and fundamental analysis. One way to do this is to follow experienced traders with a good footprint who show up whether the market is bearish or bullish. Here are the top five to follow in August 2024.
CryptoCred
CryptoCred tops this list because of his beginner-friendly approach to teaching technical analysis. The trader, with about 637,500 followers on X, also operates an active YouTube channel and Medium page.
An assessment of his X account shows that he shares a detailed link to trading resources that can help newbies. However, the analyst focuses on Bitcoin (BTC) as he shares his opinions on how to trade the coin on the spot market and using leverage.
Meanwhile, CryptoCred may not be the best trader to follow for meme coins. In June, he openly criticized the way celebrities take advantage of the industry for quick cash grabs at the expense of their followers.
“99% of people don’t want to learn about crypto; they’re not here to build or invest,” Cred wrote on X.
Michaël van de Poppe
Michaël van de Poppe is the founder of MN Trading Consultancy. With a following of 722,100, van de Poppe is one of the best crypto traders to follow.
Like CryptoCred, the trader shares analysis on YouTube and X. However, unlike the former, this analyst also shares his view on altcoins.
Recently, one of his biggest wins was his call for Chainlink (LINK) in 2023. He called his followers to buy the token when the price was below $6 until it reached double digits. In the meantime, the trader has been sharing his thesis on Ethereum (ETH) and the potential of the altcoin season.
RookieXBT
If you are looking to follow someone who trades BTC, altcoins, and meme coins, then RookieXBT may be one of the best crypto traders to follow. RookieXBT has 434,100 followers on X.
The pseudonymous trader is one of the most reliable analysts. He uses knowledge of volume and liquidity to spot undervalued gems across different categories.
For example, he is one of those who shilled the Solana-based meme coin Popcat (POPCAT) early before the price almost hit $1. A look at his handle shows that he has been sharing more thesis on the token.
Rekt Capital
This list would be incomplete without mentioning Rekt Capital. Recommended as one of the best crypto traders to follow in August 2024, Rekt focuses specifically on Bitcoin’s price action.
The analyst’s X handle shows a following of 488,830. Furthermore, some crypto analyses are shared via a newsletter. Although most of the posts are about BTC, the trader also occasionally talks about altcoins.
Koroush AK
Another market veteran is Koroush AK, who has been trading crypto for about seven years. With 361,300 followers on X, he, like CryptoCred, offers resources for beginners to learn the basics of technical analysis.
Koroush AK trades several cryptocurrencies. However, similar to most analysts, his main area of strength is BTC. However, his latest post about the coin is a cryptic one after BTC reversed completely from $70,000.
Final Words
While many crypto traders are online, it is crucial to do your due diligence before deciding who to follow. This helps avoid those who only share their opinions during bull markets when prices are rising.
Additionally, some traders may share false information that could harm your trading objectives. Therefore, always conduct your own research and study the insights provided before following any of these traders.