A popular crypto analyst believes the four rivals of leading altcoin Ethereum (ETH) are facing a bleak future if Bitcoin (BTC) continues to drop.
Analyst predicts halving for 4 rivals of leading altcoin project
Cryptocurrency trader and analyst nicknamed Altcoin Sherpa, to 176,100 Twitter followers, smart contract-enabled Blockchain if Bitcoin continues its bear trend ‘s Solana (SOL), Avalanche (AVAX), Polkadot (DOT) and NEAR Protocol (NEAR) all say they risk losing about 50% of their value at current prices. The analyst uses the following expressions:
True halving… Polkadot (DOT), Solana (SOL), Avalanche (AVAX), NEAR Protocol (NEAR). If BTC drops another step, these altcoin projects will go 50% lower than their current level. I think we still saw a short jump before then, but these demand areas are being heavily tested at the moment.
Source: AltcoinSherpa/Twitter Polkadot is currently changing hands at $9.76. Solana, which the analyst looked at later, is trading at $41.79 at the time of writing.
Source: AltcoinSherpa/Twitter Altcoin Sherpa is also looking at Avalanche, which is currently priced at $22.42.
Source: AltcoinSherpa/Twitter Trader shows the levels of NEAR Protocol, which was $5.05 at the time of writing.
Source: AltcoinSherpa/Twitter Analyst very hopeful for TRON (TRX)
Bitcoin is currently down more than 28% in the last 30 days at $28,730 is being traded. While altcoin Sherpa is bearish against its four Ethereum rivals, the crypto analyst says TRON (TRX), a blockchain designed as a decentralized storage and distribution platform for social media and digital entertainment content, has upside potential.
Analyst says that if Bitcoin’s price ‘stabilizes’, TRON could rise over 40% from current levels as crypto asset founder Justin Sun launches new ventures. As you may recall from the cryptokoin.com news, Justin Sun recently unveiled an algorithmic stablecoin on the TRON Blockchain on USDD (USDD), which is designed to be exchanged one-to-one against the US dollar. USDD currently has a market cap of around $577 million. The analyst makes the following assessment:
TRX: One of the few cryptocurrencies you can look for long term. He wouldn’t do it in the current environment, but Justin Sun is taking his money higher. If BTC stabilizes, I predict it will go to $0.12.
Source: AltcoinSherpa/Twitter TRON is trading at $0.0821 at the time of writing.
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