Bitcoin’s strong performance in recent weeks has been interpreted by some experts as an indication of a rally. Which altcoins will follow and explode? Here are the top 3 altcoins to watch out for.
How did the altcoin market move during and after the bank crash?
After it became known that several US banks had to file for bankruptcy, the altcoin market fell sharply. This also had to do with the fact that USDC and Dai were unable to hold the dollar peg due to their proximity to Silicon Valley Bank.
Despite the crisis environment, Bitcoin initially dropped below $20,000, but turned the crisis into an opportunity and recorded a 9-month high above $29,000.
Also, Dogecoin and Shiba Inu may have been less effective as speculative cryptos in the past few days. This has to do with a certain risk aversion among investors these days. So which altcoins would be the right choice to be on the radar? Analyst Rudy Fares expects all 3 altcoins to rally in the next few weeks.
3 altcoins that could explode in the coming weeks
Ethereum (ETH)
In the last rally, Ethereum failed to perform as well as Bitcoin. Still, analysts say that may change in the coming weeks. On the one hand, it seems possible for Ethereum’s route to “catch up” with that of Bitcoin. In recent months, we can observe more frequently the harmony of price increases at different stages.
cryptocoin.com As we mentioned, the Shanghai update of Ethereum, which should greatly increase the scalability of Ethereum, is also pending. Some observers believe that the ETH price could drop. However, if the market continues to rise, Ethereum could be among the cryptocurrencies that could see sharp gains in the coming weeks.
Polygon (MATIC)
In the last few weeks, MATIC’s performance has been particularly strong. But it hasn’t been keeping up with Bitcoin for the past few days either.
Interest around Polygon does not seem to have waned. Confidence in the FIAT system fell due to the banking crisis. But the Polygon network in particular has many partnerships with the big “FIAT companies”. If we don’t see a major financial crash, Polygon (MATIC) could be one of the fastest rebounders as the crypto market rises.
Dogecoin (DOGE)
Despite Dogecoin’s rather poor performance over the past few days, a price boom seems possible in the coming weeks. It should be noted that meme coin explosions usually happen when very few people expect it.
Also, the theory that weak cryptocurrencies in volatile market stages readjust to the overall market in other stages can be reapplied. Dogecoin had a strong phase in Q4 of 2022, but performed weaker in Q1 of 2023. Therefore, the next few weeks could be very positive for DOGE, according to analyst Fares.
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