Popular crypto analyst Benjamin Cowen identified some realistic expectations for the interoperable Blockchain Polkadot (DOT)when the year 2022 comes in sight.
In a new strategy session, Cowen looks at Polkadot in his Ethereum Pair (DOT / ETH) to measure its strength as an altcoin.
According to Cowen, DOT is at least going up and down against Ethereum as opposed to many altcoins which are only gradually bleeding to death.
“Of course we have to look at the DOT / ETH rating and keep a close eye on it. The crucial test for a good altcoin is that it has an oscillator against, at least on the macro scale. is Ethereum. If it can’t vibrate Ethereum, what for? You take more risk for less reward. So there is still hope that DOT could actually be an oscillator against ETH, but it’s too early to say. ”
The analyst says that while DOT’s price action was not as memorable as it may have been in early 2021, the interoperability chain is a bullish structure over the long term. Cowen says new all-time highs could realistically be broken in the first or second quarter of next year.
“We know DOT hasn’t done quite as well as some of the other Layer-1s we’ve looked at over the past few months. But I would still argue that we are generally making higher lows on the macro scale. This really seems to culminate in a slow upward trend to around $ 50 to $ 60 …
I mean it might take a while, though Bitcoin remains relatively bullish, which I hope it is. It could be a while before DOT is able to reach this level again. We could target Q1 or Q2 by 2022 …
I hope that DOT remains in the upward trend and will ultimately reach new all-time highs in the course of 2022. “
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Source: Crypto News Deutsch