Will Major Altcoins Be a Good Investment if Bitcoin Drops to $20K?

Although Bitcoin’s downward trend seems to be ending, the dwindling trade volumes are casting doubts on how long this upswing will last. If Bitcoin declines from $50,000 and breaches the $40,000 support level, it could potentially fall to the $20,000 range.

Given Bitcoin’s volatile nature, influenced by broader market trends and regulatory news, investors are advised to exercise caution. The upcoming Bitcoin (BTC) halving event could help prevent a further decline, potentially readjusting prices beyond the $50,000 mark, as the current buying power on the weekly Bitcoin (BTC) chart indicates.

In this uncertain environment, these 4 major altcoins will stand out as potentially good investments if Bitcoin’s price drops to $20,000.

Ride The Wave of Innovation with ScapesMania

The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token’s value might increase exponentially in the future.

The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.

Your Last Chance to Boost Potential Returns Post Listing

The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.

Moreover, the token’s utility is impressive. It’s not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the $376 billion gaming industry, it leverages the market’s growth potential. Post-debut, holders can anticipate greater liquidity and easier trading.

The community’s excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania’s transition from niche to mainstream.

ScapesMania’s smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry.

Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out.

Make sure you don’t pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.

TGE ALERT – Keep Up With Latest News

Solana (SOL): A Resilient Network Amidst Challenges

Despite a recent network outage that raised concerns among investors and users, optimism surrounding Solana (SOL) remains strong. Solana’s (SOL) resilience is evident by its quick response to emergency issues and continuous upgrades showcasing its commitment to maintaining a robust and efficient network.

Solana (SOL) has seen its price fluctuate between $78.27 and $116.32, with the 10-day Moving Average at $104.11 and the 100-day Moving Average at $82.51. Support levels are set at $21.53 and $59.58, with resistance levels observed at $135.68 and $173.73.

With ongoing enhancements, such as the version upgrade to 117 and the introduction of new clients like Fire Dancer, Solana (SOL) is gearing up for improved performance. Solana’s (SOL) dedication to rigorous testing and quality checks is key in keeping its investors’ confidence rock solid.

Cardano (ADA): Navigating Through Bullish and Bearish Sentiments

Cardano (ADA) has experienced both bullish and bearish sentiments, with frequent price fluctuations. Cardano’s (ADA) growth gets a real boost from its latest updates, but the heat around how it handles NFTs has analysts split on its range and charm.

Cardano’s (ADA) price has ranged between $0.42 and $0.61, with the 10-day Moving Average at $0.53 and the 100-day Moving Average at $0.5. Support levels are at $0.15 and $0.34, with resistance levels at $0.72 and $0.91.

The surge in network activity and achievements in the decentralized finance (DeFi) sector indicate growing adoption of the Cardano (ADA) blockchain. However, the dip in NFT sales and declining buyer interest could impact the Cardano’s (ADA) diversity and appeal. Balancing these dynamics is key to sustaining Cardano’s (ADA) growth and investor interest.

Ripple (XRP): A Glimmer of Hope Amidst Legal Battles

Ripple (XRP) has seen its price rise amidst speculation of a potential settlement in the SEC vs. Ripple lawsuit. The market’s mood is looking up, which could spell good news for those with a stake in Ripple (XRP).

Ripple’s (XRP) price has ranged between $0.447 and $0.599, with the 10-day Moving Average at $0.518 and the 100-day Moving Average at $0.593. Support levels are at $0.238 and $0.391, with resistance levels at $0.696 and $0.848.

Ripple (XRP) could see a major shift if they nail the lawsuit settlement – it might just clear up all that red tape. But it’s still up in the air how this will all play out for Ripple’s (XRP) big-time business dealings. Depending on how the lawsuit pans out, Ripple (XRP) might be facing a whole new set of doors swinging wide open or running into yet another batch of hurdles.

Avalanche (AVAX): Poised for Growth with Durango Upgrade

Avalanche (AVAX) is preparing for a recovery rally, with the upcoming Durango upgrade on the Fuji testnet expected to enhance cross-chain communication and improve network scalability. The Durango upgrade will likely boost Avalanche’s (AVAX) market position through the enhancement of interoperability and network resilience.

Avalanche’s (AVAX) price has ranged between $25.8 and $42.01, with the 10-day Moving Average at $37.4 and the 100-day Moving Average at $31.84. Support levels are at $2.19 and $18.4, with resistance levels at $50.83 and $67.05.

The Durango upgrade and the introduction of Avalanche Warp Messaging (AWM) are anticipated to boost Avalanche’s (AVAX) market position by enhancing interoperability and network resilience. For these upgrades to effectively drive a rebound in Avalanche’s (AVAX) value and user growth, they need to be executed flawlessly.

Conclusion

In the current volatile cryptocurrency market, major altcoins like Solana (SOL), Cardano (ADA), Ripple (XRP), and Avalanche (AVAX) present themselves as potentially prudent investments, especially if Bitcoin (BTC) price drops to $20,000. The significant drop in Bitcoin’s (BTC) value last month has left the market on the edge of uncertainty, with the $40,000 support level being crucial for its future direction. The declining trading volume and the coming Bitcoin halving event make it difficult to predict the sustainability of any potential recovery. In this context, the resilience and growth potential of Solana (SOL), Cardano (ADA), Ripple (XRP), and Avalanche (AVAX) make them attractive options for diversifying investment portfolios and mitigating risks associated with Bitcoin’s volatility.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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