Bitcoin technical indicators on the weekly charts show a potentially significant price drop in the coming weeks or months. The moving averages have formed a bearish crossover and could draw a lot of short sellers in the coming days.
However, if past price action is anything to go by, the odds are that Bitcoin could pull a surprise and trap bears. It is safe to assume that Bitcoin is either at the bottom or very close. This means a pump could follow in the foreseeable future.
This also means it’s a good time to start shopping for high-potential altcoins that could do well in the case of a Bitcoin surprise pump. If you are currently in the altcoins market, here are some of the best that is likely to pump if Bitcoin rallies in the remaining days of August.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was a top performer recently and is still one of the high-potential cryptocurrencies to keep an eye on going forward. The recent move to introduce a burning feature whenever one pays for something in SHIB means this cryptocurrency is now highly deflationary.
Besides, Shiba Inu, one of the low-cost cryptocurrencies in the market today, is highly attractive to small-time investors who may not have the money to invest in big cryptos like Bitcoin and Ethereum. If Bitcoin rallies toward the end of the month, SHIB is one of the top cryptocurrencies that could benefit the most.
Ethereum (ETH)
Ethereum (ETH) will remain on investors’ radar for the remainder of August and most of early September. That’s because of the upcoming Ethereum merge. There is a lot of expectation that the merge will trigger an Ethereum rally. As such, if Bitcoin rallies toward the end of the month, Ethereum could easily
