The cryptocurrency market is back to being dominated by the bears amid the FUD news around Binance. Meanwhile, giants like Bitcoin and Ethereum are looking for opportunities to recover. Crypto analysts warn that volatile market conditions will push Dogecoin and Binance-linked altcoins to the bottom.
Binance news could drag Dogecoin and these 2 altcoins to the bottom in 2023
Twitter analyst tunez.eth says investors losing interest in buying altcoins is a sign that the crypto market is nearing the end of the cycle. The analyst also predicts that investors will return to well-established cryptos like Bitcoin and Ethereum. Such a situation will start a new bullish wave for market leaders. But before that, the analyst predicts that in the short term, Bitcoin will return to the lower support of around $ 10,000. In part of his tweets dated December 17, he wrote:
There’s probably an endless supply of under 10,000 that naturally stands out. I can imagine that BTC’s hovering above 10,000 will perhaps start to feel like it’s actually all over, the kind of feeling we need to hit rock bottom.
Analysts say lower support level for Ethereum is around $1000. The leading altcoin melted with Bitcoin, accompanied by the Binance news in December. Tunez.eth says it will see these levels as opportunities:
The only number that really matters to me is $1,000. Anything under $1,000 is a great long-term buy and should serve as the place where the accumulation happens.
BNB Coin (BNB)
The analyst then said about BNB Coin that the $190-250 zone is similar to the BTC price of around $6,000 in 2018. He also predicts that breaking these levels could be the final capitulation stage. As you follow on Kriptokoin.com, crypto analyst Jason Pizzino offered a similar view. Tunez.eth says it will wait for the $200 region for a while:
The 190-250 BNB range is essentially Bitcoin’s 2018 price floor of $6,000. Breaking this price floor will give this market its ultimate capitulation. It’s just a guess, the trendline breakout is what I think you should wait before you risk it.
When it comes to Dogecoin, the analyst says it has the cleanest chart on the market. However, he did mention that it has the potential to revolutionize micropayments. DOGE rallied over 150% in October of this year on the prospect of integrating with Twitter. It was also the subject of SpaceX’s recently launched satellite mission. Tunez.eth has this to say about Dogecoin:
Probably the cleanest graph in crypto at this point, as an Elon Musk token, it has the potential to be revolutionary for micropayments. Your grandchildren won’t believe you can get a duke for less than a penny.