A widely-followed crypto strategist and trader believes that Bitcoin, Ethereum and three other cryptocurrencies have more upside potential as they are trading well below their fair value this year.
In a new tweet, the analyst known as Flood tells his 118,900 subscribers that Bitcoin (BTC) has an upside potential of nearly 200% from its current valuation of $58,000. The crypto analyst believes that this year, Bitcoin’s fair value stands at $172,000.
As for Ethereum (ETH), Flood says he can see the leading smart contract platform increasing by over 60% this year with a fair valuation of $3,333.
Flood is also looking at FTX Token (FTT), the native asset of crypto exchange FTX. He believes that FTT is poised to skyrocket by 344% from its current price of $50 to a fair value of $220.
Smart contract platform Solana (SOL) is also on the trader’s radar. With a fair value of $77 according to Flood, SOL has room to grow by over 185% from its current price of $27.
Last on the trader’s list is Nerve Finance (NRV), an automated market maker running on the Binance Smart Chain. Flood is bullish on NRV as he sees it trading at $22.22 this year, representing a possible surge of nearly 500% from its current price of $3.73.
Flood is also updating the crypto assets that make up his portfolio. He says he’s adding more FTT and NRV amid recent bullish price action while trimming his holdings in Solana. He adds that he let go of his holdings in Ethereum, Aave, and Raydium (RAY) after less than stellar performances. The trader also highlights that decentralized exchange PancakeSwap (CAKE) is now part of his portfolio after buying it at an average price of $17.2.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