Synapse (SYN) Predicted Massive Increase Amid Regulator’s Crackdown On Crypto

Key Points:

• In the next one to six weeks, the trader believes there will be three or four triggers that will push the market toward Synchain/DApps.
• Regarding the whole cryptocurrency market, Pentoshi foresees a challenging 2023 as regulators crack down on the budding sector.

One low-cap altcoin, Synapse (SYN), according to an analyst who correctly predicted the end of Bitcoin’s (BTC) bull market in 2021, may spark rallies amid a flurry of positive events.

The analyst Pentoshi, who goes by the pseudonym Pentoshi, tweets that he is buying Synapse (SYN), a protocol that intends to enable safe cross-chain communication.

Pentoshi predicts that the initiative will experience bullish developments that could propel SYN closer to his goals. In particular, Most significant levels are indicated using technical analysis. Fundamentally speaking: In the next one to six weeks, he believes there will be three or four triggers that will push the market toward Synchain/DApps.

A project called Synchain describes itself as a next-generation blockchain that seeks to address the problems of scalability and security. There is currently no definite announcement indicating that Synapse and Synchain are forming a collaboration.

Pentoshi appears to have set numerous targets for SYN, ranging from $1.47 to $3.75, according to his chart. In case of a corrective move, the crypto expert also claims to have put bids between $1.20 and $1.25.

The Coinmarketcap data shows that SYN is currently trading at $1.45, up more than 11% compared to yesterday.

Besides, the cryptocurrency strategist previously predicted that Bitcoin would decline to about $21,200.

As of this writing, Bitcoin is trading at $21,729, a slight decrease from the previous day.

Regarding the whole cryptocurrency market, Pentoshi foresees a challenging 2023 as regulators crack down on the budding sector.

Obviously this is going to be a rough year from a regulatory standpoint, as we’ve seen this week. All of this too shall pass. Bullish on the frogs [crypto market participants] overcoming the suits, and animal spirits winning in the end.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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