The largest cryptocurrency in the world by capitalization and demand has already shown the world what it is capable of achieving. In the last year as well as the ongoing one, Bitcoin (BTC) has been on the right track towards success and mainstream adoption.
However, it is not just Bitcoin (BTC) that is showing this kind of bullish nature but other cryptocurrencies are also doing the same. As the Bitcoin (BTC) prices grow in number and demand, so will the prices for other cryptocurrencies.
After showing a constant rally and bullish nature at the end of the year 2020 and the beginning of the current year, Bitcoin (BTC) prices have started dwindling a bit. As Bitcoin (BTC) is the first-ever cryptocurrency and the largest in the industry, it has somehow become the flag bearer of the industry.
This is the reason why when investors want to predict the future of cryptocurrencies, they look at the price and nature of Bitcoin (BTC). If Bitcoin (BTC) is unstable, so will the rest of the cryptocurrency industry. This is the reason why the entire investment community is waiting for Bitcoin (BTC) to become stable.
Once that happens, the altcoins will start gaining more investments and will become even more bullish than they already are.
When it comes to outclass performance with respect to rallying, demand, and market capitalization, Polkadot has proven to be one of the strongest performers in the year 2021.
Ever since the beginning of the current year, Polkadot has been displaying a constant rise in its price. Right from the start of 2021, DOT has been achieving all-time highs and from the looks of it, the currency will keep increasing with respect to its price.
According to statistics, Polkadot (DOT) has managed to gain an 85% rally since the beginning of the year 2021 where 75% of the rally comes from the last seven days. As of now, Polkadot (DOT) has achieved yet another milestone of surpassing one of the major cryptocurrencies. The on-chain analyzing forums have reported that Polkadot (DOT) has managed to surpass Ripple’s (XRP) market capitalization. This means that DOT is now the 4th largest cryptocurrency in the world by market capitalization.
Now the main question is how long will the rallying continue for Polkadot (DOT)? At the time of publishing, Polkadot (DOT) is sitting at a price of $17.27 per DOT with a 6.39% gain for the entire day so far.
According to analysts, the price correct is now due for Polkadot (DOT) that may drag it down to between $11 and $12. After that, it will remain stable and once Bitcoin (BTC) starts gaining on its price again, Polkadot will go above the $27. Then after another price correction, DOT will be down to $20-$21.