A widely-followed crypto trader and analyst who built his following with bullish calls on Bitcoin says that he anticipates altcoins to be the big movers this month.
In a new tweet, the analyst known as Capo tells his 59,500 followers that he’s closely watching the performance of altcoins as the Bitcoin dominance index is showing signs of a deep pullback.
[adinserter block="1"]“Exciting times ahead for altcoins.”
Traders rely on the Bitcoin dominance index to predict whether Bitcoin will outperform altcoins or vice versa. When the index flashes signs of weakness, it’s often a sign that altcoins may be about to outperform Bitcoin.
Capo’s bearish outlook on the Bitcoin dominance index comes as he emphasizes his bullishness on Ethereum against Bitcoin (ETH/BTC). The trader retweets a chart he posted in late February showing that ETH/BTC may be poised to print a new all-time high.
“Soon you will see…”
Another coin on Capo’s radar is Ethereum-based automated market maker Balancer (BAL), which he says is also primed to reach a new all-time high against Bitcoin.
“BAL/BTC all-time high is programmed.”
The next coin on Capo’s list is a project designed to reduce risk through diversification and decentralizations: Reserve Rights Token (RSR). According to Capo, RSR/BTC is positioning to soar over 66% from 0.0000015 to 0.0000025.
Coming in at number four is e-sports and video entertainment protocol Verasity (VRA/BTC), which Capo notes has managed to end its six-month downtrend.
“VRA – Before vs. After. Squiggles don’t lie. Bearish market structure is broken after a deviation. Fundamentals are good.”
The last coin is blockchain-based gaming ecosystem SAND. Capo says he is bullish on both SAND/BTC and SAND/USDT.
“SAND Not selling below $1.”
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Featured Image: Shutterstock/wacomka
