A crypto analyst and day trader known for turning 0.2 BTC into $100,000 in a recent trading competition is listing his top five large to medium-cap crypto picks.
The pseudonymous analyst, who goes by the name SalsaTekila, tells his 57,000 Twitter followers that he believes a fresh altcoin season is brewing, although the timing depends on Bitcoin.
“Alts season is coming. Not sure if before of after Bitcoin breaks all-time high but I’m only increasing exposure from here…
The biggest bull market signal I’ve ever witnessed was when BTC shrugged off [the] Bitmex CFTC lawsuit and Trump getting COVID, around $10.5K.”
According to the strategist, Bitcoin remains the most reliable bet in the crypto markets, although its returns may be smaller than many other crypto assets in the market.
“BTC market cap is so high though. Scams with lower market caps unironically have more upside in the tank in my opinion.”
The trader says he’s heavily invested in Ethereum (ETH), which stands as his number two pick in the crypto markets.
“I [had] more money in ETH than my net worth at the beginning of 2020. And before that, 2019 was also absolutely insane. I’m at that juncture where exponential growth becomes hard. If I seek those ROI returns, I’ll likely give away a huge chunk of trading edge, and get hurt.”
After Ethereum, the analyst points to Chainlink (LINK) as his third pick, followed by Binance Coin (BNB) and Monero (XMR).
In the short term, SalsaTekila says the markets are likely to move sideways, and for now he’s preaching patience to fellow traders.
“We’re probably going to range around current prices for a while. Wait for the next entry that just doesn’t suck.”
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/MoVille
