Well-liked crypto analyst Benjamin Cowen warns that Cardano (ADA), Solana (SOL) and one different altcoin might quickly implode in opposition to Bitcoin (BTC).
Cowen tells his 748,900 Twitter followers that he believes ADA, SOL and Polygon (MATIC) are going to point out additional weak point in opposition to the crypto king primarily based on historic worth motion.
Taking a look at ADA, Cowen predicts that the Ethereum (ETH) competitor might decline greater than 50% from its present worth in opposition to Bitcoin (ADA/BTC) just like what occurred in 2019.
“Precisely 4 years in the past, ADA/BTC was at 900 sats (similar as immediately). Roughly five-six weeks later, it was at 400 sats.
The altcoin reckoning will be brutal.”
At time of writing, ADA/BTC is buying and selling for $0.00000903 BTC ($0.27 USD).
Subsequent, Cowen says that Solana has for in regards to the final two years gone on rallies solely to place in new lows in opposition to Bitcoin (SOL/BTC), and he believes that worth motion sample will proceed.
“SOL/BTC following the identical sample for nearly the final two years. Folks get sucked again in on every pump, just for it to ultimately fade and put in new lows.”
At time of writing, SOL/BTC is buying and selling for $0.000538 BTC ($16.33 USD).
Lastly, Cowen warns that Polygon is buying and selling in opposition to Bitcoin within the decrease bounds of a worth vary. He predicts if MATIC/BTC dips under the $0.0000170 BTC degree there’s little assist to maintain it from collapsing.
“MATIC/BTC fading to the decrease a part of the vary. Beneath 1,700 sats, there’s not a lot assist for some time.”
At time of writing MATIC/BTC is price $0.0000208 BTC ($0.63 USD).
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Verify Value Motion
Observe us on Twitter, Fb and Telegram
Surf The Day by day Hodl Combine
Verify Newest Information Headlines
 
Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses you might incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in affiliate internet marketing.
Featured Picture: Shutterstock/Chor muang/WindAwake/Mingirov Yuriy
