A crypto trader and analyst known for turning a couple thousand dollars into $100,000 in a summer trading competition says he’s ready for Ethereum to outpace Bitcoin in the new year.
The pseudonymous investor who goes by the name SalsaTekila tells his 58,000 Twitter followers that he’s accumulated a substantial allocation of the second-largest cryptocurrency in preparation for 2021.
“I own an uncomfortable amount of ETH (spot). Bought more again today, with the trading gains. I think it will outperform bitcoin in the coming year. It’s the only way I can hold a swing trade for a long time: by owning the asset. I would never succeed with leverage.”
The trader says he’s not expecting a rally to happen right away.
He’s keeping his eye on the top cryptocurrency, Bitcoin, and says he doesn’t think it’s ready to surpass resistance at $20,000 just yet.
“I don’t see much to do for BTC trading right now. No idea what direction it picks, which means if I scalp I need to monitor for both entry AND exit, there would be no ‘letting trades run…’
Not saying it’s going to dump, just think it’s probably a good price to sell into fiat until I believe we break $20,000, which isn’t now [in my opinion].
The trader says BTC isn’t facing any real resistance on its path to its all-time high and he plans to buy during retracements.
“My plan goes as follow: buy every BTC dip and disable red button. I really don’t see any technical resistance up to price discovery. Unless there’s a shift in tides, I’ll keep riding the bull waves. Buy dips, not rips. I won’t share my trades until ATH, or something big. Good luck.”
Featured Image: Shutterstock/Tithi Luadthong