A popular crypto analyst and trader who called the current market pullback says that the next alt season is just around the corner.
On Tuesday, the pseudonymous crypto trader Smart Contracter accurately predicted Bitcoin would force an overall altcoin market correction as the king coin finds its accumulation range and pushes back down toward $23,000.
Now that his prediction has played out, with the market retracing more than 6%, the trader says the capitulation likely signals the start of alt season.
Amid the correction, Smart Contracter says he’s buying Litecoin (LTC), Ethereum (ETH), Uniswap (UNI), Synthetix (SNX) and Sushi in preparation for an altcoin boom.
Prior to the market drop, the analyst spotlighted two additional decentralized finance (DeFi) assets that he believes have not reached their tops.
The first is an insurance protocol supported by yearn.finance’s (YFI) Andre Cronje.
“Keep your eyes on COVER… my gut tells me this thing moons, only 12m mcap atm, 5-10x from here is not out of the question.”
Since the trader’s original call back in November, Cover’s market cap has nearly tripled. Nevertheless, the analyst says now may be a good entry zone for traders as COVER bounces off support.
“Nice bounce from daily support on Cover, not a bad time fro a re-entry for anyone who missed the first leg up.”
Smart Contracter also believes UNI, the governance token of the decentralized exchange (DEX) Uniswap, has not yet reached its potential.
“UNI is only just starting to heat up fam, last calls to load up before the next mark up begins.
$5 first resistance but probs going much higher.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxFollow us on Twitter, Facebook and Telegram
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 loses 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/Art Furnace
