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After hitting the highs of 40% in 6 cryptocurrencies, an analyst points out 5 cryptocurrencies linked to the metaverse and Play-to-Earn

The price of Bitcoin (BTC) failed to sustain its value above $ 59,000 and again registered a drop of more than 6%, taking its value to $ 56,000.

However, although the fall has left many investors fearful of a possible deep correction in the value of the largest cryptocurrency on the market, for the analyst Michaël van de Poppe what is happening is just a break for the bulls and can set a trap for those who, believing in a downside, end up selling their BTC.

For van de Poppe, BTC is printing a double bottom structure at $ 55,000 and this should show strength for the price of the cryptocurrency, since the bears should show fatigue at this point and should not be able to push the value far below this mark.

“At this point, we can only conclude that we are making lower highs, in which we retest the previous levels … In that case, we hit the support ($ 55,000), we go back up. [y ahora a] the crucial resistance zone ($ 60,000), “he said.

Nevertheless, the analyst notes that if the bulls fail to hold $ 55,000 and BTC closes below this level, then we could have a bullish divergence.

“And if we have that bullish divergence, that will be a sign that the market is going to reverse from here,” he concluded.

Bitcoin retreats, the metaverse advances

But as Bitcoin falls back the cryptocurrencies linked to the metaverse and play to earn platforms, in which players earn cryptocurrencies for their interaction in the game, have managed to untangle themselves from the BTC crash And, even with the market down, they present positive results, as was the case with MANA, SAND tokens, among others.

Who is watching the crypto assets of the metaverse is the trader and presenter of Altcoin Daily, Austin Arnold, who got it right in August of this year by publishing an analysis that indicated the purchase of six cryptocurrencies for the month of September.

In the month, while BTC recorded a 54% rise, the altcoins indicated by the analyst rose as much as 49% and none of them were in the red, with VET up 49%, Tezos up 44%, ETH up 49%, Atom up 12% and ADA up 8%.

Now the analyst names 5 cryptocurrencies from platforms linked to the metaverse that he believes have great potential not only to go up but to create important characteristics for the crypto market.

The first on Arnold’s list is Theta Network (THETA), which according to him is an essential infrastructure for the development of the metaverse.

“As metaverses and gaming-based metaverses and ‘virtual live’ events continue to grow, Theta is positioned as the key infrastructure to power them across the technology stack. Its high concurrent user counts at live metaverses are tailored perfectly to the delivery of video and data point-to-point and demonstrate the need for the Theta protocol, “he said.

GAIA, ATLAS, AXS and MANA

The next cryptocurrency on the list of operators is Gaia Everworld (GAIA), a multi-regional fantasy game built on Polygon (MATIC). According to Arnold, Gaia Everworld is an immersive game in which players can explore and build kingdoms. Arnold says GAIA has potential thanks to its unique technology and strong support.

“We can see some of the big names backing this project here – Polygon, AU21 Capital, Bullperks, EnjinStarter … definitely a differentiator. Another differentiator is the technology. They have Unity 3D, they have the Unreal engine and of course, [está] built on Polygon. “”

Arnold also points to Star Atlas (ATLAS), a game built in Solana (SOL) that is announced as the great hype of the world of cryptocurrencies for 2022 and that has its largest union in Brazil. According to Arnold, ATLAS is in the spotlight for its growing number of followers.

“One of the big reasons I consider Star Atlas to be a metaverse to follow is because of how quickly the community is growing. The Star Atlas Discord server just hit 100,000 members. It’s a huge achievement for the community. [y] the team”.

The last two cryptocurrencies indicated by the analyst are AXS, the native Axie Infinity token, and MANNA, from Decentraland, both present in virtually every analyst cue when it comes to metaverse games and play-to-earn.

Arnold points out that both are, today, the main platforms in this new phase of the cryptocurrency market and that the trend is for them to remain relevant as this sector begins to gain more and more body.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trade move involves risk, you should do your own research when making a decision.

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HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

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