New Altcoin Price Predictions: SOL, AVAX, ATOM and DOT | CryptoGazette
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The crypto market is making efforts to recover the losses that it managed to see during the past price corrections. Check out the latest reports on some new predicitons about the prices of some really popular altcoins.
Altcoins price predicitons are out
Morgan Creek Capital Management’s Mark Yusko is talking about four cryptos that he believes could withstand a market downturn relatively well.
According to a Business Insider report, Yusko explained the fact that the native tokens of smart contract-enabled blockchains Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), and Polkadot (DOT) are among the crypto assets that could have the ability to survive a bear market.
Regarding Solana, the Morgan Creek founder says that the coin is a “great protocol.”
“There’s probably still some potential volatility in the price ahead. But long term, I think it’s a great protocol.”
According to Yusko, cryptos will be in a bear market for the next 12 months or so before the next Bitcoin halving event kicks off a bull cycle.
“What you’re seeing is crypto is definitely in a bear cycle. It’s going to struggle for the next 12-ish months then we’ll go back to the next bull cycle triggered by the next halving event.”
He also made sure to address the latest halving event, which took place back in May of 2020. The next one is expected to take place during the first six months of 2024.
Yusko also explained the fact that Bitcoin is not correlated to stocks though it might appear to be so on shorter time frames.
“You can’t calculate correlation over the short-term. Just the math doesn’t work. And so yes, it is true that in times of stress, ‘all correlations go to one.’”
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $43,534.
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