A trader who predicted Bitcoin’s deep plunge to $4,000 in March says one of the year’s most talked-about altcoins is now ready to erupt.
The pseudonymous analyst known in the cryptoverse as Capo tells his 20,000 Twitter followers that Chainlink’s (LINK) correction, which saw the coin’s value crash from its all-time high of $19.85 to below $9.00 from mid-August to September, might be coming to an end. According to the trader, the decentralized oracle network is in a position to parabolically rise to $31 before 2020 expires.
“If you are surprised by the BTC breakout, wait for LINK to take off.”
As for Bitcoin, the analyst is bullish on the leading cryptocurrency but he believes that BTC must push through a few resistance levels at around $13,000, $15,000, and $17,000 before skyrocketing.
S/R flip confirmed. Going for the first target.
Send it. pic.twitter.com/tVUUEVfgy7
— il Capo Of Crypto (@CryptoCapo_) October 20, 2020
Looking at Ethereum, Capo is extremely bullish on the leading smart contract platform.
“I’d buy the entire ETH supply if I could.”
The crypto trader expects ETH to ignite a steep upwards movement and outperform BTC.
“I have no doubt that ETH will perform better than BTC in the next bull cycle.”Â
Capo is also keeping a close eye on the ETH/BTC pair. In a new tweet, the trader implies that ETH/BTC may have pulled off a big bear trap.
“Oh boy.”
Other analysts are also bullish on the world’s dominant cryptocurrency. Prominent trader Smart Contracter tells his crew of 65,000 that BTC is ready to explode to $16,000.
“Still just under 2 hours to go but looks like we’re going to get another ripper daily close on BTC. Looking like a double extension of the wave three of this leg up is forming instead of a single extension, kind of feeling $14,000 won’t prove as much of a resistance as we think.”Â
The crypto analyst is also bullish on XRP. He says that Ripple’s native token is poised to follow ETH’s bullish footsteps and surge close to $0.29.
“Basically, XRP looks exactly like ETH did before it broke out yesterday.”
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 losses 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/IM_VISUALS
