A popular crypto whale and analyst is unveiling his top altcoin picks while offering his predictions on Bitcoin’s price action in 2021.
The trader, known in the industry as Flood, shares with his 92,000 followers some of his biggest forecasts for the crypto space this year.
“2021 predictions: Bitcoin trades above $50,000 for the majority of 2021. SNX (Synthetix) trades above $24 this year. DeFi (decentralized finance) TVL (total value locked) 100B+ by Q4.”
Hosting an ask-me-anything session (AMA) on Twitter, the crypto whale gives a straightforward response to a question about whether Bitcoin can skyrocket to $100,000 this year.
In addition to SNX and Bitcoin, the trader is also bullish on lending and borrowing protocol Aave and Ethereum competitor Polkadot (DOT).
Looking at XRP, Flood names one catalyst that could enable Ripple’s native asset to catch up to its large-cap peers.
“XRP is actually in an interesting spot right now because a settlement of the lawsuit could be a bullish catalyst and lead to a pump, but for now I think there are better assets.”
When asked about his biggest loss in Bitcoin, Flood says he lost 44 BTC while the leading crypto asset was trading at $7,800.
As for his biggest gains in a single day, the crypto whale notes he once made almost a million dollars in a span of 24 hours.
“+$880k in 24h on a short for derivatives, spot swings a lot more than that each day though at this point.”
The trader also responds to a question about how he was able to grow his account to the point where he can trade with seven figures or more consistently.
“6 years, blood sweat and tears, $20k or so, and just keep longing.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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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/Tithi Luadthong