Top Trader Forecasts Imminent Record High for One Ethereum Rival, Says 38% Bitcoin Burst Likely
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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