A popular crypto trader predicts a rally of over 3,000% for an Ethereum-based altcoin.
The analyst, known by the alias CredibleCrypto, told his 336,100 Twitter followers that the native token CRV on the decentralized finance (DeFi) platform Curve DAO has the potential to explode in the next bull market. says.
Koinfinans.com As we reported, Credible set the initial price target for the altcoin at $1 and the initial resistance price level between $2-3 to confirm the rally. The analyst says that CRV deserves a market cap of between $13 and $14 billion, which corresponds to a price level of around $20. Such a price hike would yield roughly a 3.178 percent gain from the CRV’s current price of $0.61.
“Even though I remain severely damaged in my spot CRV assets, my confidence has not been shaken one bit. I still think CRV will be one of the best performers in the final stages of this cycle. I think double-digit increases are easy, the biggest moves are yet to come. We need to get over $1 to get things started.”
Credible is also examining Bitcoin (BTC) and thinks that the leading crypto asset will reach its all-time high (ATH) in 2023, although the majority of analysts expect further declines or at least a long period of consolidation.
“Are there large accounts waiting for new ATH in 2023 besides me? The consensus I see is that we need more than six months of consolidation at these lows before we start to rise again to form a new ATH post-halving in 2024/2025. This is really interesting.”
In the near term, Credible says Bitcoin could drop to the $16,300-$16,500 range before rising.
“Funding has reset and is back to neutral. On the lower timeframes it looks like we need some more pullback here before we are ready for the next uptrend.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.