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Million Subscriber Analyst Announces Altcoin That Will Explode!

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The cryptocurrency market is troublesome for its investors these days. The leading crypto Bitcoin (BTC) is hovering below the psychological level of $ 20,000. Leading altcoin Ethereum (ETH), on the other hand, appears to have lost the wind created by its upcoming Merge update. In this environment, a famous cryptocurrency analyst predicts Cosmos (ATOM) could trigger a 100% rally with Ethereum’s leverage.

“The price of Altcoin currently depends on two main factors”

The host of the popular cryptocurrency YouTube channel Coin Bureau, nicknamed Guy, is naming an altcoin for its 2.1 million subscribers in a new video post. The analyst is quite assertive about this altcoin. cryptocurrency.comAs you’ve always been following, Merge, the highly anticipated update of the main Ethereum altcoin, will be the highlight of this month and the market.

Guy says that Ethereum Merge will likely help raise the price of Cosmos (ATOM). The analyst notes that demand for ATOM dropped dramatically during the bear market. He also says that the price of the altcoin currently depends on two main factors. Coin Bureau host explains:

Even more frightening, ATOM’s economic equation doesn’t have much on the demand side. It is gratifying that the organizations behind the project have apparently stopped selling. However, it also means that the development of demand factors is slowing down.

Altcoin

“The strongest demand driver of the altcoin project …”

According to the analyst, ATOM’s strongest demand engine these days is Jae Kwon’s GNO Land. Furthermore, all the airdrops underway for promising Cosmos projects, including this project, are a key factor, given only to those who own or hold ATOM in participating portfolios such as the Keplr wallet. Guy then mentions a secondary demand driver for ATOM. In this regard, he records:

It is a bridge currency for all the promising Cosmos ecosystems on blockchains of more general use cases like Evmos and Kava, which support Ethereum smart contracts and lock in the total value of hundreds of millions of dollars.

Altcoin

“It is possible that we will see ATOM do 2X in the short and medium term”

The Coin Bureau host also explains what would happen if the current ATOM trend continues. According to the analyst, ATOM has the potential to evolve if there are no issues with Ethereum’s transition to the long-awaited Proof-of-Stake (PoS) consensus mechanism. In this context, Guy makes the following assessment:

Now, while ATOM’s limited demand drivers may seem, they have been enough to raise its price over the past few months. If this trend continues, we could see ATOM double in the short to medium term. It really depends on whether the Ethereum Merge update coming this month will result in a broader rally in the cryptocurrency market.

At press time, ATOM was trading at $ 12.78, according to data from CoinMarketCap. The altcoin has followed a sideways trend over the past 24 hours. However, the altcoin has a 71.54% discount from the ATH level of $ 44.70 seen about a year ago.

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