Crypto trader and influencer Elliot Wainman says he believes certain sectors of the crypto market are about to erupt.
Wainman tells his 197,000 subscribers on YouTube that he often navigates the crypto markets by finding opportunities when the market is down and most traders are fearful.
“As people started to get too bearish yesterday, I started to get quite bullish. When people were overextended on Bitcoin, I was looking at the altcoins. This is the nature of predicting the next move and being a step ahead of the game. That’s how you don’t just get a little 20%, 30% pump. That’s how you get those Xs and gains.”
The trader also shares a signal that could indicate the time has come for altcoins to outperform Bitcoin.
“People start to think, ‘Well, if Bitcoin’s moving 10%, 20%, then why do I need to be in these riskier altcoins?’ and that’s exactly the mindset that drives everyone out of the alts and makes everyone stop paying attention to the alts. That’s what you want to take advantage of because you have the opportunity to see this next move coming, which in my mind is inevitable.”
“Look at 88mph (MPH). Up 300% against Bitcoin. Injective (INJ) up 60% against Bitcoin on the seven-day [timeframe]. We have THORChain (RUNE) up 33% against Bitcoin. KeeperDAO ROOK, one of my favorites, up 100% against Bitcoin. ChainX (PCX) up 42%. Hegic up 52%. API3 up almost 200% against Bitcoin.
This is where you get these gains even if all you want to do is stack more sats and stack more Bitcoin. You have the opportunity to do that by getting your hands on good alts before they take off, before they go mainstream and before they’re the talk of the town.”
Wainman believes decentralized finance (DeFi) assets will witness the most explosive rallies and says a few of his top picks are the data oracle API3, network optimization protocol Marlin (POND), and the decentralized capital market Allianceblock (ALBT).
Wainman says he’s also bullish on non-fungible tokens (NFTs).
“Altseason is here. Altcoin dominance is growing. We have a subsiding crypto fear and greed index. We have NFTs (non-fungible tokens) absolutely booming which is super exciting for me… Usually, when you hear so many people being super skeptical and you really see the fundamentals, it could be, not always, but it could be an indicator that you’re on to something and that the dividends for this bet will pay out dramatically.
That’s what altcoins have been over the last few months and years. That’s [what] I believe DeFi (decentralized finance) will continue to be as people have written it off as dead since the end of the August boom.”
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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.
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