Top Cryptocurrencies To Watch If Musk Assumes Cabinet Role
The cryptocurrency market is known for its volatility and sensitivity to various factors. One prominent figure in the crypto world is often linked to significant movements in this market. Speculations are rife about the impact that Elon Musk could have if he were to take on a cabinet role in the US government. Here are three cryptocurrencies to keep an eye on if Musk’s potential involvement materializes.
Dogecoin (DOGE)
Dogecoin is a cryptocurrency that has gained popularity due to Musk’s positive comments about it. His reference to the token in relation to his cost-cutting duties has led to speculation about Dogecoin’s future. However, experts predict a slight decline in Doge’s price in the coming month, making it a coin to watch closely.
According to CoinCodex, the price of Dogecoin is expected to drop by -13.44% and reach $0.142737 by November 28, 2024. The current sentiment is bullish, indicating positive potential for the coin.
Bitcoin (BTC)
Bitcoin is another cryptocurrency favored by Musk, and its price has already hit record highs. In the event of a Trump-Musk partnership, Bitcoin could see further gains. CoinCodex predicts a substantial increase in Bitcoin’s price, with a potential surge of up to 33% to reach $93,000.
Experts believe that Bitcoin’s current momentum could strengthen if Musk takes on a new government role in the future. This makes Bitcoin an attractive investment option for those following Musk’s potential political moves.
Ethereum (ETH)
Ethereum is a leading cryptocurrency that Musk also holds in his portfolio. As we approach November, experts anticipate a rally in Ethereum’s price, potentially reaching $2,786.44. The sentiment around Ethereum is currently neutral, offering a window of opportunity for investors.
Based on the forecasts, Ethereum is poised for a 6.25% increase in price by the end of November 2024. Considering the current market conditions, Ethereum presents a favorable investment option for those looking to capitalize on potential market developments.
Overall, these top cryptocurrencies could experience significant movements in the coming weeks if the speculated scenario of Musk’s involvement in the US government becomes a reality. Investors are advised to stay informed and monitor these coins closely for potential opportunities.
Source : watcher.guru