Trader Shares '3 Contrarian Takes:' TRUMP Meme Coin 'An Obvious Buy' And These 2 Cryptos Are 'Deep Value' And Will Be 'Outperforming Soon'

Benzinga09-16 23:17

Pseudonymous crypto influencer Sistine Research shared three self-proclaimed “contrarian takes” on the future of certain cryptocurrencies, including Ripple XRP/USD, Ethereum ETH/USD and the Maga ...

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They predict that it will outperform most major cryptocurrencies over the next 12-24 months as the ongoing SEC case resolves.\nThe analyst also expects Ethereum to start outperforming soon, as the attractiveness of DeFi increases with the Federal Reserve cutting rates and yields dropping. They believe more money will move on-chain and into DeFi, favouring ETH, Aave AAVE/USD, Uniswap UNI/USD, Lido Dao LDO/USD Pepe PEPE/USD, and TRUMP.\nSistine Research also sees value in the TRUMP token. They argue that the market currently believes there is a 49% chance of a Trump election win (based on Polymarket data), which could lead to a significant increase in the value of the meme coin. \nIf Trump wins, they expect the crypto market to surge on the likelihood of a Bitcoin BTC/USD strategic reserve getting priced in. However, TRUMP has lost over 90% of its value from the all-time high. \n\nAlso Read: Ouch! Harris, Trump-Themed Political Meme Coins Down 90%: What Happened To ‘4 More Years Of Catalysts’?\nWhy It Matters: Sistine Research’s views provide a contrarian perspective, suggesting potential opportunities for investors willing to take on more risk. The forecast for XRP is particularly notable given the ongoing legal battle between Ripple and the SEC, which has created uncertainty around the digital currency.\nThe prediction for Ethereum and the associated DeFi tokens suggests a shift in the market dynamics as traditional financial mechanisms adjust.\nIf the TRUMP token continues to sell off due to fears of a loss in the upcoming election, its market cap could drop to $30-$100 million (currently $92.4 million). At this lower valuation, the token would have widespread distribution, fewer large holders (“whales”) and benefit from strong crypto market conditions and significant media attention.\nAdditionally, if Ethereum rises to $3,000-$4,000 pre-election, the TRUMP token could also rally, as it has closely followed ETH's performance throughout the year.\nWhat’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.\nRead Next: \n\nHere’s How Much Donald Trump’s Crypto Portfolio Is Down From The Top (Spoiler: It’s Millions And Millions Of Dollars)\n\nImage: Shutterstock Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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