Crypto analyst named four promising altcoins
Benjamin Cowen highlighted Ethereum, Cardano, Avalanche, and Polkadot in this market cycle
02.05.2022 - 11:05
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What’s new? Crypto analyst Benjamin Cowen believes that leading layer-1 (L1) protocols, including Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT), are the best in this market cycle. He called Ethereum the number one project among the most promising altcoins. Cowen shared his opinion on the InvestAnswers YouTube channel.
What else did Cowen say? The analyst said that he highly appreciated the decentralization and security of Ethereum. He also revealed that he had invested in Cardano, Avalanche, and Polkadot as well. In addition, Cowen admitted that he was considering investing in projects such as Solana and Terra in the next cycle.
What happened before? Benjamin Cowen compared the current market situation to the collapse of cryptocurrencies in 2018. He believes that the price of bitcoin can reach a lower low. In this regard, the analyst said that there was a high risk of investing in altcoins.
Analysts’ opinions and predictions. On April 10, former BitMEX CEO Arthur Hayes predicted the collapse of the crypto market by the summer of 2022. He believes that bitcoin will fall to $30 000 and Ethereum to $2 500. Hayes stated that his guesses were “a gut feeling” and also admitted that he had started buying “a number of altcoins.” In this, he later said that the price of bitcoin could reach $1 million in the long term. According to the founder of the BitMEX exchange, one of the triggers for the rise in the price of the asset will be an acceleration of inflation.
On April 24, Raoul Pal, a former employee of the investment bank Goldman Sachs and the founder of Real Vision TV, stated that changes in the global market conditions could trigger the rise in the crypto market. He suggested that if the US economy or the global economy started to weaken, then there would be fewer rate hikes. The analyst added that this would have a good effect on the cryptocurrency.
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Cryptocurrency rates
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Bitcoin
$98 676
BTC
+1.19%
-
Ethereum
$3 349.61
ETH
+1.37%
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BNB Smart Chain
$579.4
BSC
+1.23%
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Ripple
$1.48
XRP
+30.82%
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Dogecoin
$0.397003
DOGE
+2.78%
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Cardano
$0.921396
ADA
+15.05%
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Bitcoin Cash
$488.57
BCH
-2.09%
-
Stellar XLM
$0.300412
XLM
+24.2%
-
Polkadot
$6.21
DOT
+5.21%
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Litecoin
$91.48
LTC
+1.55%