DOT<\/a> at least goes up and down against Ethereum as opposed to many altcoins which just gradually bleed down.<\/p>\n\u201cOf course, the thing we have to look at and keep a close eye on is, the DOT\/ETH valuation. Now the key test of a good altcoin is that over the macro scale, at the very least, it\u2019s an oscillator against Ethereum. If it cannot oscillate against Ethereum, then what\u2019s the point? You\u2019re taking on more risk for less reward. So there\u2019s still hope here that DOT could in fact be an oscillator against ETH but it\u2019s too early to say yet.\u201d\u00a0<\/em><\/p>\nThe analyst says that while DOT\u2019s price performance hasn\u2019t been as memorable as perhaps early 2021, the interoperability chain is ultimately forming a bullish structure over the long term. Cowen says new all-time highs could be realistically broken in the first or second quarter of next year.<\/p>\n
\u201cWe know over the last few months DOT has not performed quite as well as some of the other layer-1s that we\u2019ve looked at. But I would still argue that over the macro scale, we generally are putting in higher lows. Really, this seems to be culminating with a slow uptrend up to around the $50 to $60 range\u2026<\/em><\/p>\n I mean, it could be a while even if Bitcoin stays relatively bullish, which I hope that it does. It could still be quite a while before DOT is able to get back up to these levels. We could be targeting Q1 or Q2 of 2022\u2026<\/em><\/p>\nI\u00a0hope that DOT remains in the uptrend and ultimately we\u2019ll see it break out to new all-time highs as we get further into 2022.\u201d<\/em><\/p>\n