Editor's PiCK
"Bitcoin's Upward Trend Expected to Prevail…Focus on Highly Correlated Coins"
Summary
- CryptoQuant analyst Alemán reported that Bitcoin is in a bullish cycle and is likely to continue until November this year.
- Investors should focus on virtual assets like TRON that have a high correlation with Bitcoin.
- TRON has recently maintained an upward trend and has the potential to increase in value along with Bitcoin.
As Bitcoin (BTC) is expected to continue its upward trend, there is a claim that attention should be paid to coins with high correlation.
On the 27th (local time), CryptoQuant analyst Carmelo Alemán stated in a report, "Bitcoin is in a bullish cycle. This cycle is likely to continue until November this year," and "Investors should focus on virtual assets with high correlation to Bitcoin." These assets have smaller market caps than Bitcoin, which means they can realize much larger profits when Bitcoin rises. He cited TRON (TRX), Sui (SUI), Cardano (ADA), Stellar Lumen (XLM), Hedera (HBAR), and Litecoin (LTC) as representative assets.
He particularly focused on TRON. Alemán said, "Among them, TRON has maintained a clear upward trend over the past few months," and "The issuance of Tether (USDT) based on TRON has surpassed Ethereum (ETH), and usage in the Asian region is rapidly increasing." He continued, "TRON's network activity is surging," and "It has the potential to significantly increase in value along with Bitcoin's rise."
As of 5:48 PM, TRON is trading at $0.2778 on the Binance USDT market, up 2.09% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
