As we continue to head into the final trading days of March, volatility in the cryptocurrency markets has become a little more predictable. So what's the next step? Some analysts believe that the bullish contingent that has formed around Bitcoin will keep putting pressure on the market in order to get closer to a $100,000 scenario for BTC/USD, but what about the rest of the major tokens?
A recent study has come to the conclusion that Ethereum and Ripple have higher exposure to Bitcoin, while Ripple has the most potential exposure to Bitcoin. It is very important that you keep an eye on the fundamentals in order to protect your funds and make smart investment decisions. Here are some tidbits taken from analyst commentary with regard to other tokens:
Binance Coin seems to be on track to float above $280 and could very well continue to inch closer to $300; however, building a support level at that high price would be very difficult since traders flock to this token whenever BTC rallies, and they promptly take profits by exiting their positions. It should be noted that BNB is achieving nice circulation as the functional token of the Binance exchange and trading platform, which means that every transaction completed with BNB increases circulation and activity.
Cardano will likely remain under $1.50. As much as fans of this token would prefer to see it trading closer to $2.00, very few analysts see this happening over the next few months. The problem with Cardano is that it has shown a propensity to fall below $1.00 each time BTC goes through a major pullback.
Ripple has a negative fundamental situation that has prevented it from trading above the $0.40 to $0.50 trading range, and this is bound to keep it at that level unless parent company Ripple Labs is able to prevail in the lawsuit being pursued by the United States Securities and Exchange Commission. Unlike other tokens, XRP is not moving along with BTC and ETH, but this could also change in the future if traders liquidate their positions and convert funds to Bitcoin.