Wednesday, 31 May 2023

Crypto News

AltSignals and Polkadot price prediction as BTC holds $27k

AltSignals and Polkadot price prediction as BTC holds $27k

  • Bitcoin (BTC) price has bounced 2% in the past 24 hours to currently trade above $27,400.
  • Polkadot (DOT) price on the other hand is around $5.40 as bulls assess a critical resistance zone. 
  • As the AltSignals (ASI) presale gathers momentum, we look at what the Bitcoin price prediction could mean for ASI and DOT.

Bitcoin bulls might yet reclaim control above $27,000 after pushing from the brink of fresh collapse when prices dipped under $26,000 last Friday (BTC price indeed touched $25,810 on crypto exchange Coinbase).

As analysts remain bullish on bitcoin price, what does the move to reclaim the uptrend mean for the broader crypto market? What about the AltSignals and Polkadot prices?

Bitcoin price prediction

BTC price is back above $27,000, with bulls having retested resistance above $27,600 in the past 24 hours. The rebound has market experts predicting further resilience for the price of the benchmark cryptocurrency.

The broader expectation is that holding above the $27k level could open up an upside retest of $30k – a key technical level where an upward breakout could put BTC on the path to new year-to-date highs.

Analysts have suggested Bitcoin could yet go parabolic in 2023 as a new bull cycle takes shape ahead of the upcoming BTC halving. 

The important network event is now less than a year away and has historically been bullish for the flagship cryptocurrency. The enthusiasm that could build ahead of the even has the potential to help altcoins tick up too. 

For projects such as Polkadot and AltSignals, a rallying crypto market offers a chance to build momentum.

What is Polkadot?

Polkadot is a blockchain platform that is leading the new trajectory of interoperability. The protocol connects different blockchains, or parachains, allowing for the development of new use cases as chains easily communicate with each other. In this case, Polkadot allows for such uses as running of smart contracts, data storage and token issuance.

As the world of an interoperable Web3 grows, Polkadot’s ecosystem is taking on an even greater outlook as one of the leading blockchain platforms. Interoperability, security and scalability mean the platform is taking on an integral role in the decentralised finance (DeFi) and non-fungible tokens (NFTs) ecosystem.

While there’s more likely to come from the team, the potential to revolutionise the…

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