Can Altcoins Be Crash-Proof? Kale Abrahamson Breaks It Down Here
Kale Abrahamson says that studying how Bitcoin performs is important for strategically gaining the most returns in cryptocurrency. If the price of Bitcoin falls, he claims it could potentially start another world war. But, he says the likelihood of Bitcoin crashing is minimal. However, if this happens, he says his net worth will reduce to zero. He shares two scenarios that could happen, including how Bitcoin could rise to over $60,000 in the market. In this scenario, the the worth of altcoins would be very likely to increase. The second situation is that the price of Bitcoin could increase to around $53,000. Regardless of the likelihood of these events happening, he encourages his followers to buy coins right now.
Are Altcoins Better than Bitcoin?
Kale Abrahamson explains altcoins by saying that these cryptocurrencies are, as he says, “crash proof.” He mentions a famous Twitter user named Pentosh1, who says that Ethereum is thriving in the market while the price of Bitcoin is decreasing. Abrahamson praises the user for his knowledge in Bitcoin trading and then says that the Fear and Greed index has dropped.
Afterward, he says that the buy signal, or indicator of when investors should buy coins based on the advice of expert traders in the market, appeared on the hourly cryptocurrency performance chart from YouTuber Crypto Banter. According to Crypto Banter’s charts, the market is performing between $59,000 and $61,000.
Abrahamson then discusses how the Ethereum to Bitcoin Price Chart is, as he calls it, “the most bullish chart in the history of crypto.” In other words, he tells his followers that if they invest in Ethereum, they will gain considerable wealth and that Ethereum is the reason why other altcoins will not crash.
Lastly, he goes on to explain that there is a misconception in the correlation of the relationship between Bitcoin and Altcoin performance. The online portfolio, or software that allows users to analyze the rise and fall of cryptocurrency investments, is a way to analyze their performance. If the portfolio indicates that the price of Bitcoin is dropping, this also shows that the success of Altcoin is failing. However, because many investors believe the false notion that Altcoin investments will plummet alongside Bitcoin, the Fear and Greed index is 32.
List of Altcoins Increasing with Investments in December
Abrahamson describes the following Altcoin currencies’ current market value and performance:
- The first on this list is OCEAN protocol, increasing by six percent in prices.
- Dot Ecosystem and Altura also see promising results, with many investors buying on their platforms.
- Abrahamson says that VPP is increasing in prices by seven percent, along with Avax prices rising at the same rate.
- Polka Bridge, RMRK, Polkadot Ecosystem, and Avax are also on the list for their notable increase despite Bitcoin decreasing during the past week.
- Phantom’s market cap is five billion dollars with a twenty percent rise in prices.
- Vulcan Forged, a gaming studio allowing users to play and purchase NFTs, is thriving in the crypto market and has a market cap valued at $500 million.
The price of Bitcoin is currently at about $47,000, $6000 shy of reaching a low high number. Moreover, the market cap for this currency is still at about $887 billion. Ethereum is steadily increasing in its price as for other altcoin currencies. Also, Pentoshi recently stated on Twitter, “Have started buying back significantly what I’ve offloaded in $BTC the last month. Will bid down to 42k. I think we could have another 10% down, but we’ll see what [the] market gives. I am ready.”
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