Alt Coin

Crypto Analyst Predicts 200% Rallies for Three Altcoins, Sets Bullish Target for Bitcoin

A preferred crypto analyst and dealer thinks three altcoins are primed to surge in price after enduring a multi-month downtrend.

Pseudonymous dealer Altcoin Sherpa tells his 170,800 Twitter followers that “nobody sane” is looking for new all-time highs within the altcoin market proper now.

However, he says many crypto belongings may improve in price by 2-3x in comparison with their current lows.

As examples, the analyst highlights three crypto belongings he believes may surge round 200% from their mid-March lows.

Altcoin Sherpa predicts that Compound (COMP), a decentralized finance platform for borrowing and lending crypto belongings, may skyrocket all the way in which previous the $290 vary.

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Source: Altcoin Sherpa/Twitter

COMP is buying and selling at $124.50 at time of writing.

The dealer believes Theta Network (THETA) may surge previous $6.50. Theta Network is a peer-to-peer distribution platform for video content material.

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Source: Altcoin Sherpa/Twitter

THETA is buying and selling at $3.79 at time of writing.

Altcoin Sherpa additionally thinks CAKE, the native token for decentralized change PancakeSwap, may transfer up previous $17.

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Source: Altcoin Sherpa/Twitter

CAKE is buying and selling at $8.12 at time of writing.

Altcoin Sherpa caveats that he’s not encouraging merchants to purchase these three particular crypto belongings. Rather, he simply views them as examples of the broader altcoin market.

The analyst says his total market plan nonetheless revolves round Bitcoin (BTC).

“Active market contributors are going to be most rewarded aka merchants/rotaters on this present surroundings. Guessing that liquidity continues to be going to flock from one sector to the following in these situations.

My plan: nonetheless wait for BTC to get to $50,000 – $55,000 or one thing after which dump a number of my shitcoin positions and derisk a bit bit. I’ll nonetheless maintain good core positions in many who I like, however I’ll promote some and look to compound.”

Bitcoin is buying and selling at $47,196.69 at time of writing, up almost 15% from the place it was priced one week in the past.

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Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses it’s possible you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please notice that The Daily Hodl participates in affiliate internet marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

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