These Are the Next Altcoins to Take Off! – Cryptokoin.com

Crypto analyst @Bluntz_Capital, famed for accurately timing the 2018 Bitcoin bottom, has been noted for his latest comments on Ethereum alternatives and rival altcoins. He believes that these altcoins can make 2x gains in the short term. The expert’s top picks were Phantom (FTM) and Frax Share (FXS), identifying bullish potential in these altcoins. Here are the details…

Crypto analyst explains “altcoins ready to offer 2x earnings”

Analyst Bluntz emerges as a crypto expert who gained popularity after predicting the 2018 Bitcoin bottom that the asset formed before the 2019 bull run. cryptocoin.com As we have also reported, in 2018, when financial institutions such as the US Federal Reserve lowered interest rates, the price of Bitcoin rose after the bottom formation. This is why the 2018 Bitcoin bottom was crucial for traders who profited from the asset’s 2019 bull run. Bluntz_Capital, a crypto expert and analyst, recently stated that the ETH/BTC base is coming in or very close. He informed his 221.9k followers that Ethereum is currently in the “buy zone.”

In a tweet dated 2022, the expert argued that if the ETH/BTC ratio reaches 0.062 in the first quarter of 2023, he confirms that the altcoin is in the buy zone. Typically, when an ETH/BTC ratio nears the bottom, there is a subsequent rally in altcoins as seen in previous market cycles. This supports Bluntz_Capital’s bullish thesis for altcoins. Bluntz_Capital shared his optimism about Ethereum and two bullish altcoins ores. The analyst believes that Fantom (FTM) and Frax Share (FXS) are the two altcoins most likely to show a bullish trend in the short term.

Why FTM and FXS?

The technical expert uses Elliott Wave (EW) analysis to identify bullish potential altcoins. According to EW, a trending market moves in a five-three wave pattern, with the first five waves in the direction of the larger trend. After the completion of five waves in one direction, a larger corrective action is expected in three consecutive waves. The second wave group (corrective ones) is represented by letters and the first five by numbers.

The analyst applied the EW to FXS, where five waves have risen from the lows and three waves have bounced back to the 61.8 percent Fibonacci Retracement level. Bluntz_Capital expects trend continuation in FXS and up to 40 percent gains in altcoin. When it comes to FTM, the expert recommends a long position in the altcoin after recording a 17 percent drop as seen in the price chart below. According to the analyst, FTM has completed the Elliot Wave model. The expert predicts a rally in the Ethereum rival in the short term.

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