Can Polkadot get out of the correction stage and set sights on a new all-time high?
Even though when dealing with cryptocurrencies, one cannot draw conclusions or even assumptions, many traders pay attention to certain altcoins from time to time. In our new LATOKEN review, we want to talk about Polkadot, an altcoin that, according to some traders, has almost 2x upside potential.
Some traders believe that shortly, the price of the Polkadot (DOT) token can reach $45. This altcoin can go into a bullish phase after it bounces off the support level, which is at around $20.
The probability of Polkadot growth might be high, as the token chart shows a falling wedge technical analysis pattern, which may indicate a trend reversal and the transition of the asset into a bullish phase.
However, as we have repeatedly written in our LATOKEN reviews, you cannot be 100% sure when dealing with cryptocurrency. You can not wholly rely on the words of traders and analysts. Decided to start trading? Then it is essential to do your research, stay up to date and not act rashly. This is how you can make a profit and not become a victim of a crypto scam.
On January 21, Polkadot was trading at $22.03 on the LATOKEN crypto exchange, and its capitalization was $27.1 billion, according to CoinGecko. For a month, this altcoin has fallen in price by 4%. In November 2021, DOT hit an all-time high above $54.9. Since then, its price has decreased by 54%.
Polkadot is a system that connects different blockchains and allows them to interact. The project’s primary goal is to create a unified financial space without borders within the framework of a multi-blockchain.START TRADING DOT
- Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
- Has over 2 mln registered users, over 1 mln Android app installs.
- Is in the TOP 10 of CoinGecko rank by the amount of token pairs and coins listed.
- VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
- Advisory Board includes former CFOs from JP Morgan and PayPal.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.