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Tuesday, December 6, 2022
HomeCryptoPrime Crypto Dealer Warns Polygon, Binance Coin and One Ethereum Rival Danger...

Prime Crypto Dealer Warns Polygon, Binance Coin and One Ethereum Rival Danger Crashing if Bitcoin Dumps

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A extensively adopted crypto analyst is warning {that a} Bitcoin (BTC) dump would possible trigger the value crash of Polygon (MATIC), Binance Coin (BNB) and Cosmos (ATOM).

The pseudonymous analyst Altcoin Sherpa tells his 187,300 Twitter followers that he thinks Bitcoin is due for one more dump to the value vary of $10,000 to $14,000, doubtlessly dragging down some layer-1 altcoins.

At time of writing, Bitcoin is altering palms at $16,636.

Altcoin Sherpa says he’s specializing in these layer-1 blockchain initiatives due to their worth seize potential.

He first appears at BNB, the token of Binance’s crypto trade. If Bitcoin’s value holds up, he says BNB would possible reclaim its $300 value vary. But if Bitcoin dumps, he says BNB will lose help within the $200 value vary.

“BNB: This should go back to the $300s if BTC holds up. If BTC dumps big, buy at $150.”

Source: Altcoin Sherpa

At time of writing, BNB is buying and selling palms at $270.

He subsequent appears at Ethereum (ETH)-scaling platform MATIC, saying the altcoin has proven energy with enterprise partnerships and up to date rallies. But he predicts with a Bitcoin dump, MATIC may even see a greater than 40% decline.

“MATIC: has great BD (business and development) and partnerships, this already went a few times from the bottom and still should be OK. BTC dumps big, buy at $0.50 again.”

Source: Altcoin Sherpa

At time of writing, MATIC is buying and selling palms at $0.88.

Turning his give attention to the Ethereum rival ATOM, he says it might drop to the $5 vary if Bitcoin drops to the $10,000 to $14,000 value vary. ATOM had misplaced bull help across the $16 value degree in September and once more earlier this month within the $15 vary.

“ATOM: BTC dumps, buy in the $5s.”

Source: Altcoin Sherpa

At time of writing, ATOM is buying and selling palms at $9.89.

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Feature Image: Shutterstock/Dolan Mbengi

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