Top Trader Forecasts Imminent Record High for One Ethereum Rival, Says 38% Bitcoin Burst Likely
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A widely followed cryptocurrency analyst and trader says he’s bullish on three digital assets including Bitcoin (BTC) and one up-and-coming Ethereum (ETH) competitor.
Starting with Bitcoin, pseudonymous trader Altcoin Sherpa tells his 173,800 Twitter followers that he believes BTC will surge close to 40% as the leading cryptocurrency continues to show a bullish market structure in the higher timeframe.
“BTC: I’m still of the opinion that Bitcoin is printing a bottom and we’re going to see a move to approximately $55,000. Altcoins are likely to follow. It’s still a high time frame bullish market structure technically (w. higher highs and higher lows).”
Bitcoin is trading for $39,723 at time of writing.
Next up is Near Protocol (NEAR), a developer-focused blockchain designed for scalability and stability. Altcoin Sherpa believes the Ethereum rival will cruise past its all-time high in the coming weeks.
“NEAR: I’m still in this one, and I’m still of the opinion we go up past all-time high in the next few weeks.”
NEAR is exchanging hands for $15.54 at time of writing.
Altcoin Sherpa is also keeping a close watch on FTX Token (FTT), the utility token of the FTX cryptocurrency exchange.
The crypto trader says that FTT possesses “solid” upside potential after trading in a wide range for months.”
“FTT: as much as I like to shit on this coin, it’s chopped around for five months and is compressed as hell. I think it looks pretty solid as a slower trade (ie. you just dollar cost average in here and then sell it in a few weeks).”
FTX Token is valued at $42.20 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
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