There’s no way around it: following Jerome Powell’s speech on the central bank on August 26th, cryptocurrency markets (including Bitcoin) took a nosedive. Bitcoin saw a 14% dip over the month of August, which marks the cryptocurrency’s largest decline in the month of August over the past seven years. September is typically a high-loss month for investors as well.
When a market turnaround occurs, cryptocurrencies typically experience growth before other parts of the market.
Here, we’ll explore five cryptocurrencies that are likely to show a strong recovery as the market bounces back.
1. Chiliz (CHZ/USDT)
Even after the recent downturn, Chiliz is trending up. While it does look like the upward trend may be evening out soon, buyers are still picking up Chiliz fast. The price dipped to $.20, but it looks like it may rise up to $.33 shortly.
2. Monero (XMR/USDT)
Currently, Monero is selling at $142, and it looks like the price may be driven up to $153 over the next twenty days. It’s possible that the price could be pushed as high as $174 signaling steep upward movement for Monero.
3. Cosmos (ATOM/USDT)
Currently holding strong at $10.58, it’s possible that the price of Cosmos could be pushed to $11.39 over the next twenty days, and could later rise as high as $13.45. Many investors believe that this means Cosmos’ downtrend is over, however, this is not necessarily correct. If the price moves below the support zone, prices could dip as low as $8.50.
4. Polygon (MATIC/USDT)
Polygon has been supported strongly by investors and has shown a rebound after the dip in the market. It’s possible that prices could rise as high as $1.05, but could also turn as low as $.63 depending on market trends.
5. BTC/USDT
A lack of high-level demand and a weak rebound after the market dip didn’t look good, but for now, BTC’s support line looks strong.It’s possible that the price could rise to $25,211 over the next 50 days.
Meta: Cryptocurency is no stranger to the ups and downs of the market, but a few altcoins are holding strong. Here, we’ll take a look at the top five.
Source: https://cointelegraph.com/news/rocky-road-lies-ahead-but-here-s-5-altcoins-that-still-look-bullish
