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The parachain-driven altcoin, PolkaDot, is gaining bullish traction in the wake of Bitcoin surpassing the $62,000 threshold on Wednesday. An upsurge in new investments is propelling PolkaDot’s rally in the cryptocurrency market, alongside other altcoins like Cardano’s ADA, Ripple’s XRP, and VeChain’s VET, which have also achieved new monthly highs. This surge comes amid renewed investor enthusiasm, marking a significant shift after a two-year hiatus.

 

 

 

As PolkaDot maintains its positive momentum, reaching $8.6, the burning question arises: Will the cryptocurrency continue its ascent or experience a downturn? This article aims to explore the potential trajectory of DOT in the coming weeks. Known for its volatility, PolkaDot often experiences substantial fluctuations during bullish phases in the cryptocurrency market. In November 2021, DOT reached an all-time high of $54.98, coinciding with Bitcoin’s peak at $69,044. The altcoin’s movements closely align with Bitcoin, with its price hinging on BTC’s performance in the charts.

 

 

 

Should Bitcoin sustain its positive trajectory and breach its previous all-time high of $69,044, PolkaDot may mirror BTC’s success. The next significant milestone for DOT is at $10, and a breakthrough of this resistance level could propel its price to $12. The interconnected relationship between PolkaDot and Bitcoin remains a key factor in forecasting the altcoin’s future movements.

 

 

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