3 Analysts Named: Elon Musk Can Pump These Altcoins!

This week, Elon Musk bought Twitter. Even before the acquisition became official, there was speculation about what kind of changes it would bring. Three analysts at US-based investment firm The Motley Fool think a change could be cryptocurrency integration. If Musk provides more cryptocurrency functionality; It is thought that BNB, DOGE and BTC will benefit.

Elon Musk revives Dogecoin

Analyst RJ Fulton pointed to Dogecoin. If you’re starting to think about the kind of Dogecoin integration that brings the chest coin to the masses, you might be on the right track. According to the analyst, as long as Musk is in charge, the possibility of Dogecoin to be a payment tool on Twitter cannot be ignored. Since its Twitter acquisition, Dogecoin’s price has doubled in a little over a week amid some hopeful speculation. But it’s still more than 75 percent lower than its all-time high. But unlike Dogecoin’s last historic run in 2021, this time it might be a little different.

When Dogecoin quickly hit its all-time high of $0.75, there was no benefit behind it. Before Musk made it possible to buy Tesla artifacts with Dogecoin, there weren’t many use cases for the coin. However, if Dogecoin and Twitter create some kind of integration that will allow their users to pay each other or even the monthly price they defend with the cryptocurrency, then the narrative that Dogecoin can’t be used for anything will quickly fade.

According to the analyst, before Musk bought Twitter, Dogecoin’s chances of survival were probably poor. In particular, it is not unusual for cryptocurrencies to lose all their value. But now Musk runs one of the most recognizable social media platforms. This does not mean that Dogecoin will be the next Bitcoin. But its resurgence could guarantee a minor position in your portfolio should it make Dogecoin the future “World currency,” as Musk once suggested.

Bitcoin supporter analyst spoke

Analyst Neil Patel points to Bitcoin. Musk has long been a supporter of Bitcoin, the world’s most expensive cryptocurrency. The company he manages, Tesla, currently has a valuable metric of the largest crypto asset. Since Musk announced his takeover of Twitter on October 27, the price of Bitcoin has dropped just over 1 percent. This reaction is unlike what happened with the chest token Dogecoin. It shows that investors may not see much upside for Bitcoin with the agreement.

However, more than anything else, this consensus shed a bright light on cryptocurrencies. It caused the positivity that the industry desperately needs right now. The analyst thinks that Muk’s Twitter uptake will benefit Bitcoin if it draws more attention to crypto. It is said that Twitter can include micropayments on the platform. This means that followers can support their favorite accounts by supporting them with crypto. If Bitcoin is integrated as well, it has the potential to be a bullish outcome, according to the analyst.

Using Bitcoin for micropayments could spur the further development of the Lightning Network, a layer 2 scaling solution. Also, according to the analyst, as he did with Tesla, Elon Musk may choose to add some Bitcoin to Twitter’s balance sheet. Ultimately, time will tell whether Musk’s takeover of Twitter will be a catalyst for BTC. For now, investors will have to sit back and show patience.

The subject of bullish words for BNB too

Finally, analyst Michael Byrne drew attention to BNB. Koindeks.com As we have also reported, BNB, previously known as Binance Coin, is the local token of Binance, the world’s largest cryptocurrency exchange. Binance invested $500 million in Musk’s acquisition of Twitter. This makes Binance the fourth largest investor. Although Twitter’s future plans for the cryptocurrency are unclear, according to the analyst, it seems possible for Binance to have a say, given its large share in the company. Binance essentially said it would help Twitter use Blockchain technology to fight bots.

CEO Changpeng Zhao also presented Binance Pay as the solution for integrating crypto payments into Twitter. In terms of helping Twitter get more into cryptocurrency, CZ said, “We have the technology, the know-how, the artifacts; That’s why we’re ready to help.” According to the analyst, if Binance engages more deeply with Twitter, it will give the crypto exchange more visibility. This will lead to significant user growth. According to the analyst, a random increase in Binance’s popularity would be good for BNB and its holders. Because Binance spends 20 percent of its profits on burning BNB tokens.

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