Altcoin Sherpa: SOL, AVAX, DOT, NEAR Could Dip 50%, Bullish On TRX
A according to a popular crypto analyst four Ethereum (ETH) competitors could be in for a rough ride, if Bitcoin (BTC) continues to lose value.
The analyst, known as Altcoin Sherpa shared with his 176K Twitter followers that layer 1 smart contract blockchains Solana (SOL), Avalanche (AVAX), Polkadot (DOT) and NEAR Protocol (NEAR) could all be in for a 50% drop of their current values, if Bitcoin downtrend doesn’t reverse.
“The real halving…
DOT SOL AVAX NEAR
If BTC makes another leg down, these go another 50% from current levels.
I still think we see a short bounce before then, but these demand areas getting tested a lot right now.”
Despite being bearish on the four Ethereum challengers, Altcoin Sherpa sees upside for TRON (TRX), a blockchain designed as a decentralized storage and distribution platform for social media and digital entertainment content.
Assuming that Bitcoin “stabilizes,” TRON could go up by over 40% from current levels, as the founder of the crypto asset, Justin Sun, launches new initiatives, the analyst projects.
Earlier this month TRON launched an algorithmic stablecoin USDD on the TRON blockchain, which is designed to exchange one for one against the US dollar. USDD currently has a market cap of approximately $600 million.
“One of the few coins you can look for longs; wouldn’t do it in this current area but Justin Sun is moving his sh**coin higher. If BTC stabilizes, I would assume this goes to $0.12.”
$TRX: 1 of the few coins you can look for longs; wouldn't do it in this current area but Justin Sun is moving his shitcoin higher. If BTC stabilizes, I would assume this goes to .12. #TRONpic.twitter.com/p59ENKnlY5
