Bitcoin and altcoins are currently experiencing a significant downturn as Donald Trump’s newly announced tariffs inject uncertainty into the economic landscape.

Interestingly, even though BTC and the broader altcoin market have erased all the gains they made following Trump’s crypto reserve comments just last weekend, prominent crypto analyst il Capo Of Crypto believes this dip could present a buying opportunity, particularly for select altcoins.

Il Capo, who is well-known for his bearish market perspectives in the past – often drawing criticism from investors for his cautious outlook – recently shared a list on his Telegram channel of altcoins he anticipates will benefit most from the upcoming White House Crypto Summit on March 7th.

This pivotal summit, hosted by Donald Trump alongside tech entrepreneur David Sacks, is set to gather influential figures from the crypto world, including CEOs, leading founders, and regulatory bodies, to discuss the future trajectory of digital assets in the United States.

A highly anticipated topic at the summit is the potential unveiling of a 0% capital gains tax for cryptocurrencies issued within the US. According to il Capo, should this materialize, US-based cryptocurrencies could see substantial gains in the near term.

“This recent price drop feels like a bear trap. The tariff worries were already factored into the market, and now all eyes are on Trump’s March 7th Crypto Summit, which is widely expected to be a positive catalyst.

There’s a real possibility of a 0% capital gains tax for cryptocurrencies issued in the US. If this becomes a reality, US-rooted projects stand to gain significantly in the short run.

That’s precisely why I’ve strategically added a few more altcoins to my portfolio.”

“NEAR Protocol (NEAR): This scalable blockchain boasts strong US connections and a promising technical structure. Despite this, it’s currently trading 14% lower than its peak yesterday.

Render (RENDER): Focused on AI and 3D rendering, Render enjoys a strong US presence and significant backing.

Constellation (DAG): As a lower-cap token with government ties, DAG could see increased demand. After experiencing consistent downward pressure, DAG is now showing a robust bullish pattern, aiming to break through the $0.05 resistance level. Exposure is kept low due to its limited ceiling potential.

Ethena (ENA): This up-and-coming altcoin is attracting attention due to its promising growth prospects within the market.

Solana (SOL): Given that Trump’s Crypto Reserve includes Solana, a small position was added.

In conclusion, il Capo predicts that these altcoins are poised for significant price movements as the March 7th White House Crypto Summit draws closer, particularly if the summit yields new crypto-friendly regulations.

*This is not investment advice.