Analytics and on-chain metrics firm Santiment has projected that 4 leading cryptos might set for a breakout this month. Santiment projected that increasing FUD in the markets could lead to a short-term rally in the coming days. The analytics firm has asked investors to keep an eye on the 4 cryptos that might deliver quick returns. The 4 leading cryptocurrencies to watch out for this month per Santiment are:
- Bitcoin (BTC)
- Binance Coin (BNB)
- Dogecoin (DOGE)
- ChainLink (LINK)
“The majority of crypto assets are seeing major negativity from the trading community right now. But keep your eye on BTC, BNB, DOGE, and LINK. These top caps are showing particularly high levels of FUD that can lead to eventual breakouts,” they tweeted.
Can The 4 Cryptos Rally Hard? Here’s Our Take
Dogecoin is no stranger to unexpected rallies and breakouts in price. The crypto has the backing of Tesla CEO Elon Musk and his announcements can make Doge spike in price. However, Musk’s tweet on Dogecoin is limited as the billionaire has not mentioned the coin on social media for a month.
On the other hand, Bitcoin is known for its volatility and can dramatically swing both ways in the indices. BTC can hit $25,000 one week and plummet to $18,000 the next. Crypto is not for the faint-hearted as it can deliver stellar returns and also take it all away in a jiffy.
The markets are yet to come out of the bearish grips and all cryptos, including Bitcoin, Dogecoin, Binance, and ChainLink are at risk. It is advised to remain cautious at this period as the markets are on a downward spiral.
The stock markets are tanking as Dow Jones is in the red for two consecutive days last week. The Asian markets dipped on Monday and could slump further this month. Therefore, it is advised to remain cautious before going all-in on cryptos in September.
At press time, Dogecoin was trading at $0.06 and is down 3.5% in the 24 hours day trade. Bitcoin is trading at $18,776 and is down 1.2% in the day’s trade.