Analyst predicts massive rallies for a “low value” altcoin. On the other hand, he claims that Bitcoin transactions are at a critical life-or-death level. A prominent crypto trader said he expects significant moves from an altcoin before Bitcoin’s fate is determined following a sudden BTC price pullback. Details cryptocoin.com‘in.
Altcoin small expectation big
The trader, nicknamed Inmortal, tells Telegram subscribers that the chart looks good for ATOM, the native token of blockchain network Cosmos. Analyst: “ATOM/USD. this chart [şu anda] I love. Clean deviation after retesting the daily demand and the corresponding swing point. The low range has been tested, the next high range is $48.”
In a tweet presenting the graphic above, Inmortal concludes: “ATOM is undervalued.” At the time of writing, ATOM is changing hands at $32.20, up over 20% weekly, but still below its all-time high of $44.73 in September. Inmortal then looks at Bitcoin, which recently dropped from a new high above $69,000 to just under $56,000. His prediction for the best crypto is clear: “Do or die.”
The trader is planning a possible BTC rally where $61,000 is a key breakout level: “dream scenario if we get 61k back.”
Inmortal concluded its crypto analysis by looking at the leading altcoin Ethereum. The trader thinks that ETH is on the verge of surpassing Bitcoin in terms of market cap, which is popularly referred to as a “conversion”: “It is only a matter of time before it rolls over.”
At the time of writing, ETH is priced at $4,291, and its market cap of $51.6 billion is roughly half that of Bitcoin, which is valued at over $1 trillion.
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