Trader Who Nailed 2022 Bitcoin Meltdown Says Ethereum Rival With ‘Strong Fundamentals’ Could Surge by up to 170%
A extensively adopted cryptocurrency dealer who precisely predicted Bitcoin’s (BTC) collapse to beneath $30,000 in 2022 is naming a blue-chip altcoin that he thinks possesses massive upside potential.
The dealer pseudonymously referred to as Capo tells his 841,700 followers on the social media platform X that if Polkadot (DOT) manages to keep above a key help degree at $6, the Ethereum (ETH) competitor may skyrocket as a lot as 172% from its present ranges.
“DOT.
At present at main help once more, after being rejected from resistance. If this help holds, we must always see a transfer up to the identical resistance ($10 to $11) and if this degree is damaged, then it ought to attain $15 to $17.”
Polkadot is buying and selling at $6.25 at time of writing.
In accordance to Capo, his bullish thesis for Polkadot is bolstered by the crypto challenge’s progress.
“Some sturdy fundamentals for Polkadot:
– Polkadot 2.0
– Parachains
– Polkadot gaming (migration of Legendary Video games)
– AI (synthetic intelligence) integrations like Phala Community (PHA).”
Polkadot 2.0 refers to the important thing modifications the community has launched to improve performance and effectivity. Phala Community (PHA) is a man-made intelligence co-processor for blockchains.
In the meantime, web3 gaming developer Legendary Video games introduced plans to pivot from Ethereum to Polkadot months in the past.
Turning to Bitcoin, Capo says that the flagship crypto asset is at an “interesting support zone” the place it may type the bottom for an upside transfer.
“There is strong demand at $59,000 to $61,000 and indicators look mostly bullish, so a bounce is likely. If BTC breaks the $65,000 resistance, I’d be looking for $68,000 to $69,000 as the first target, and $74,000 to $75,000 as the second target.”
Bitcoin is buying and selling at $60,877 at time of writing.
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