After 2021 being an extremely successful year for cryptocurrencies, many expected 2022 to continue that trend. So far, the year has seen quite a bit of struggle in January, and a short-lived recovery period in early February, which is not what the community had in mind.
However, things could still turn around for cryptocurrencies, and the host of a popular crypto analysis and market commentary show, Coin Bureau, thinks that this will happen, at least for Cosmos (ATOM).
Coin Bureau host is very bullish on ATOM — and he is not alone
The host of the show, known only as Guy, recently shared his thoughts on Cosmos — an ecosystem of tools and networks that allows the creation of interoperable blockchains. According to his recent YouTube video, Guy is apparently very bullish on the project, saying that he is confident that Cosmos will come up with a way to add value to ATOM, both inside and outside of its ecosystem.
He thinks that the project is very focused on doing just that and that the Vega update is a good example of this. This is why Guy truly believes that2022 will be a big year for Cosmos. Of course, there is one condition — the crypto industry cannot enter a new crypto winter. If this were to happen, then ATOM’s chances of growth will be nullified.
At the time of writing, ATOM’s price sits at $26.05, after dropping by 4.16% in the last 24 hours. However, on a weekly basis, ATOM is down by over 20%. Commenting on the coin, Guy said that Cosmos’ announcements, developments, and upgrades that have been seen so far have “taken ATOM on a tear,” but also that the coin is only up around 50% since he covered the project in September 2021.
The crypto market has shown signs of general weakness, and this has been the case ever since December 2021. But, after observing ATOM’s own price performance, Guy noticed that the coin has made attempts at growth. It tried to claim the $45 mark three times in the last several months, and while the attempts were not successful, the fact that the coin made them in the first place is a big sign. However, the failure to do so is also unfortunate, as it means that it is likely that ATOM will see a lot of resistance when it manages to approach those levels again.
He then moved on to discuss ATOM’s price potential, which, even he admits is hard to determine. After all, Cosmos is a large-cap crypto, and this means that it will be challenging for Atom to pull over 3x or even 4x before the bull market ends.
Guy is not the only one bullish on ATOM, however. The same is true for the anonymous host of InvestAnswers, another popular financial education show on YouTube. In their video, the host of InvestAnswers said that ATOM looks “absolutely perfect” to have its price explode moving forward. Furthermore, the host said that the altcoin will go up by around 40% next month. He concluded by saying that it seems clear to him that ATOM will hit $45, probably in a month or less.
To learn more about this token visit our Investing in Cosmos guide.
The post Coin Bureau: 2022 could be Big for Cosmos (ATOM), Here is Why appeared first on Securities.io.
