A top crypto trader and analyst says he’s expecting a tidal wave of capital to flow into the altcoin market.
In a viral tweet, the popular pseudonymous trader known in the industry as Altcoin Psycho tells his 107,300 followers that he believes fellow investors don’t realize the size of the bull cycle that’s on the horizon.
I don’t think
You guys understand
How much capital
Is about to flow in to alts
— Altcoin Psycho (@AltcoinPsycho) February 9, 2021
The trader adds that his largest altcoin investment is in decentralized cloud computing marketplace Akash Network (AKT) as he believes the low-cap crypto asset is poised to leapfrog hundreds of coins in terms of market capitalization.
“I’ve mentioned several times that my largest altcoin holding is Akash Network – AKT. It’s currently ranked 220. I firmly believe it will be in the top 50.”
Akash Network’s valuation of $121 million must skyrocket by 10x if it plans to follow Altcoin Psycho’s script and unseat Decred (DCR), the 50th largest crypto asset with a current market cap of over $1.2 billion.
With altcoins poised to generate massive gains, Altcoin Psycho is issuing a warning about greed.
“My biggest regrets in trading have never been about not betting more. Those regrets pass quickly after the initial sting. The regrets that linger are always related to being too greedy/not taking profits.”
Altcoin Psycho highlights his warning by citing a tweet from fellow trader Crypto Messiah, who says most traders will see huge gains, avoid taking profit, and watch the vast majority of their returns vanish in the long run.
“I always tell people this and they look at me like I’m crazy. Me and Messi saw many friends experience this in 2017. This time is not different. No comment on his timeline, but his thesis is spot on.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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