The Famous Analyst Polkadot (DOT) Assessed Its Price. Will DOT Rise?

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Polkadot (DOT) attracts great attention due to its compatibility with other blockchain structures. DOT is considered to be among the assets with the highest potential dec the crypto currency markets. Polkadot (DOT), whose current price is trading at $ 15.4, was evaluated by Benjamin Cowen. So will the price of Polkadot go up?

Benjamin Cowen Polkadot (DOT) Analysis

The famous crypto currency analyst Benjamin Cowen shared some details about the current status of the project and the price with his followers in his latest video. Cowen believes in Polkadot (DOT) despite the big correction experienced by the price. He makes it clear that he will be in much better places in the future.

April May and April were the days when Polkadot (DOT) made up the ATH point with 48.88 dollars. Bitcoin has experienced a troubled retreat due to its movements, especially when it was expected to break through and go higher in May. The price, which has already depreciated by close to 69% with 15.4 dollars, may be offering a good buying opportunity. We recently published an information on how to get Polkadot (DOT).

Cowen warned in his latest video to stay away from ATH points and banned investors from buying at levels close to ATH points. But the Polkadot (DOT) price seems to have already made a good retreat.

Moreover, Benjamin Cowen about Polkadot (DOT) says the following;

“I see Polkadot (DOT) among the crypto assets that may survive in the next few dec. The project will continue to survive for a long time”

Of course, such a situation will also set the stage for the price to meet serious targets.

Polkadot (DOT) Price Analysis

Cowen thinks that it makes more sense to examine the price at BTC parity. He believes that this is how more accurate results can be obtained for altcoins moving with Bitcoin.

“Bitcoin’s fall below the SMA20 line may suppress altcoins. Currently, altcoin markets are waiting for extra risky days”

That’s why Cowen also warns about entry at the current price. Currently, Bitcoin says that further increase in market dominance may not be good for altcoins and therefore Polkadot (DOT).

If we remember the Polkadot (DOT) in May, we will better understand what bad effects Bitcoin can have. The price that will break the ATH point is experiencing a 69% loss today due to Bitcoin, and there is no reason why it should not increase further with the fall of the Bitcoin price. For this reason, it may be useful for users who will make purchases to open a gradual transaction.

Also, Cowen thinks that he may have seen the bottom of the price at DOT/ETH parity. If you are going to make a purchase and you are thinking long-term, you can do it with some of your Ethereum (ETH) assets.

Of course, all these are Cowen’s opinions, and sharing them here does not mean investment advice.

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