A popular crypto trader thinks that Polygon (MATIC) and Binance Coin (BNB) are set to rally before Bitcoin (BTC) ascends towards $100,000.
The crypto market analyst known as Altcoin Sherpa tells his 141,900 Twitter followers that Bitcoin may be leaving the last door open for buyers to accumulate before taking off on its next leg up.
“IMO [in my opinion] this is the last chance to get on the Bitcoin train before this takes off. When it accelerates I expect it to suck all altcoin liquidity out of the market and move like a runaway train. Higher low getting established now – don’t get left behind.”
He says the next move that Bitcoin will make is going to be huge, based on the healthy market structure indicated by estimated moving averages.
“For this being at all-time highs, the EMAs [estimated moving averages] are actually very, very healthy IMO. Price has chopped and consolidated a while, I think when this moves it’s going to be huge.”
Taking a look at Binance Coin, Sherpa is expecting the altcoin to push beyond $600, but doesn’t think that BNB will be able to outpace Bitcoin.
At time of writing, BNB is trading at $548.55, according to CoinGecko.
“BNB: Expecting this to continue grinding up to the $600s. All-time highs in the USD [US dollar] pair coming but I don’t think this is going to outperform BTC personally.”
As for the layer-2 (L2) Ethereum scaling solution Polygon, he’s expecting MATIC to hit new all-time highs in the coming weeks. He anticipates a volatile period as L2s and sidechain competition heats up.
“MATIC: Still a good project, expecting this one to hit all-time highs in the next few weeks. Battle between these side chains/L2s/EVM clones are going to be really interesting the next few months. ETH gas makes it pretty unusable for normal [people].”
Currently, MATIC is trading at $1.98, according to CoinGecko.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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