Bitcoin technical indicators show a potentially significant price drop in the coming weeks or months. The moving averages have formed a bearish crossover. Therefore, a large number of short sellers are likely to emerge in the coming days. However, Bitcoin has the potential to surprise bears by surprise. If this happens, some altcoins listed on the Binance exchange could see big gains.
These 4 Binance altcoins have bullish potential
We are currently in the altcoin market. The pumping of Bitcoin will cause the price of many altcoins to rise. However, not all of them will appreciate at the same rate. In this article, we have compiled 4 Binance altcoins that are expected to make big gains on any BTC rise.
Shiba Inu (SHIB)
The Shiba Inu (SHIB) was one of the top performers recently. Currently, it is still one of the cryptocurrencies with high potential to look forward. There has been an update on SHIB to offer a burn feature when paying for something. This means that the cryptocurrency is now highly deflationary.
In addition, the Shiba Inu is among the low-cost cryptocurrencies on the market today. As such, it is highly attractive to small investors who can’t afford expensive cryptos like Bitcoin and Ethereum. It is possible for Bitcoin to rise towards the end of the month. If that happens, Shiba Inu will be one of the Binance altcoins that is expected to benefit the most.
Ethereum (ETH)
Ethereum (ETH) will stay on investors’ radar for the rest of August and early September. This is due to the upcoming Ethereum Merge upgrade. There is a lot of expectation that Merge will trigger an Ethereum rally. Therefore, if Bitcoin rises towards the end of the month, it is possible that Ethereum will outperform it. The probability of Ethereum ending the month above $2000 is quite high.
Ethereum Classic (ETC)
Ethereum Classic (ETC) has been dormant for many years. But in recent weeks it has started to show a lot of momentum. It’s all about Ethereum miners, which will become redundant because of Merge. Analysts predict that along with Merge, miners will switch to ETC. This prospect has the potential to cause investors to turn to ETC before and after the Merge.
Polygon (MATIC)
Polygon (MATIC) is an altcoin closely linked to Ethereum. MATIC is among the cryptocurrencies benefiting from the Ethereum Merge upgrade. This is because Merge makes Ethereum heavily dependent on layer-2 solutions like Polygon. If the merge is successful, investors who want to take advantage of the flow of transactions to other chains will log into Polygon.
The MATIC price is up nearly 234% in less than two months. Then it fell by about 28% between August 14 and August 20. This impressive bullish move appears to be looking for a stable support level to bounce back. It is possible for MATIC to hold this support by falling to $0.647 and the subsequent support level to $0.598. If that happens, analysts predict that the Binance altcoin will double in value.
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