Cryptocurrencies have had a wild ride over the past few days. The banking crisis in the USA also hit the crypto market negatively in the short term. However, the Bitcoin price in particular was able to recover quickly and strongly. Even the strong resistance at $ 25,000 was breached! Now that Bitcoin is nearing $30,000, which altcoins will follow and boom? Here are the top 3 altcoins to look out for.
After it became known that several US banks had to file for bankruptcy, cryptocurrency prices fell sharply. This also had to do with the fact that the stablecoin USD Coin and Dai could no longer hold their value against the US dollar due to the bank run on the Silicon Valley Bank.
Bitcoin was able to recover particularly quickly and strongly from the drop below $20,000. It exploded in price, rising to over $28,000 in value.
In contrast, many altcoins have not been able to compete with Bitcoin. We can take a look at the price of Dogecoin:
The Dogecoin and also the Shiba Inu Coin could benefit less as speculative coins in the last few days. This has to do with a certain risk aversion among investors in these times.
Top 3 Altcoins that may Explode soon
In the following we would like to present 3 cryptocurrencies that can rise sharply in the coming weeks:
1. Ethereum (ETH)
Ethereum could not rise as much as Bitcoin. Still, we could explode in the coming weeks. On the one hand, it seems possible that the Ether course will “catch up” to the Bitcoin course. We have been able to observe the adjustment of price increases in different phases more frequently in recent months.
The Shanghai update of Ethereum is also pending, which should massively increase the scalability of Ethereum. Some observers believe that the ETH price could rather fall. However, if the market remains bullish, Ethereum could be among the cryptocurrencies that could see sharp gains in the coming weeks .
2. Polygon (MATIC)
In the last few weeks, the performance of the Matic Coin has been particularly strong. However, in the last few days it has not been able to keep up with Bitcoin either. However, that could change in the coming weeks.
The hype about Polygon seems to be unbroken. Confidence in the FIAT system has fallen due to the banking crisis. But the Polygon network in particular has many partnerships with large “FIAT companies”. Should we not see a massive financial crash, Polygon (MATIC) should continue its hype and appreciate strongly as the crypto market rises.
3. Dogecoin (DOGE)
Despite the rather poor performance of Dogecoin in the last few days, a price explosion in the coming weeks seems to be possible. We have to keep in mind that meme coin explosions usually happen when few people expect them.
Furthermore, the theory could apply again that weak cryptocurrencies in temporary market phases adapt again to the overall market in other market phases. The Dogecoin had a strong phase in the 4th quarter of 2022, but performed weaker in the 1st quarter of 2023. The next few weeks could therefore be very positive for DOGE.
