According to a popular crypto strategist and trader, six mid-to-large altcoins will outperform Bitcoin (BTC) in the coming months.
The crypto analyst, known in the industry as Capo, told his Twitter followers; first smart contract platform from Cardano (ADA) He says he expects big moves.
Cardano is trading at $2.25 at the time of writing, almost the same level as a week ago, after returning at $2.13 on Wednesday.
Basing much of his analysis on the Elliot Wave theory, Capo says he believes ADA and a host of other crypto assets are at the start of a new altcoin season.
Elliot Wave theory is a form of technical analysis that aims to predict future price movements by describing the collective trader psychology that appears in waves on charts.
Capo in Altcoin Perpetual Futures Index (Altcoin Perpetual Futures Index) It points out that a new bull wave that seems to start is a sign of what will happen in the future.
“ALTPERP The uptrend is also solid. It also creates a potential cup and handle formation (a bullish technical price pattern that appears as a cup with a handle on the price chart) with a very high minimum extension. Maybe w3 (third wave) starts here because many altcoins are starting their third wave.
Capo also expects NOIA, the native icon of the Syntropy ecosystem, to outperform BTC in the coming weeks and months. It is an open-source protocol that aims to improve the internet through encryption and enhanced performance. Syntropy (NOIA), is trading at $ 0.39 at the time of writing, with a 10 percent increase in price last week.
Next on the list of altcoins that the analyst thinks will outperform BTC, is an enterprise-grade platform that allows organizations to build their own payment solutions and digitize any type of currency using the networked data structure protocol Trustchain. COTI is located. According to CoinGecko data, COTI has been moving in the range of $0.60 to $0.50 since last week.
Decentralized machine learning network fourth on the list Fetch.ai (FET) exists. The FET token is changing hands at $0.84, down nearly 30 percent from its all-time high of $1.17 reached in early September.
The Sandbox (SAND) The Ethereum-based virtual world platform known as Capo ranks fifth on Capo’s list of coins that appear poised to surpass Bitcoin. The platform’s native token, SAND, designed to enable users to monetize their gaming experiences, has been priced between $0.76 and $0.88 since last Friday and stands at $0.78 at the time of writing, according to CoinGecko data.
The last altcoin on Capo’s list is an eSports and blockchain-based video entertainment protocol. Verasity. Verasity platform’s native token, VRA, rose 60 percent to $0.05 last week, including a 14 percent increase in the last 24 hours.
In a long thread of tweets, Capo also explained why he believes a new altcoin season is on the way. According to the analyst, Bitcoin seems to be targeting the six-digit price mark.
“During bull markets, money tends to flow from Bitcoin to altcoins; because people are greedy and always want to make more profit.
Bitcoin now confirms its bullish scenario and targets of $100,000 and higher are likely to be reached in the next few months. This will create the ideal environment for people to feel comfortable and start speculating on altcoins.”
It also sees signs that Bitcoin’s dominance over the overall crypto market cap will decline, but warns of the potential for a major correction in early 2022, which could end the overall crypto bull cycle as well as the bottom season.
The analyst also sees signs that Bitcoin’s dominance over the overall crypto market will decline, but warns of the possibility of a major correction in early 2022 that could end both the alt season and the overall crypto bull cycle.
“There is a significant hidden bearish bias and the green support is weakening. In my opinion, 2018 lows (36.50 percent) will be needed to finish off its junior season.”
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.