The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Top Trader Scott Melker Analyzes Ethereum, XRP and Litecoin, Predicts Massive Altcoin Breakout Against Bitcoin

by Daily Hodl Staff
April 15, 2021
in Altcoins, Bitcoin, Ethereum

Crypto strategist Scott Melker is detailing his current outlook on Bitcoin, Ethereum, Litecoin and XRP.

Melker says BTC’s dip to around $62,000 after Coinbase hit the stock market on Wednesday is no surprise.

“That’s a really, really classic textbook trade, something like that. Now, as you know, when you’re trading these, you don’t put it exactly on the line, you spread orders above, below, right at the line, so that you catch it. You might not fill a full position, but you also don’t want to get front-run by whales.” 

If for some reason Bitcoin breaks below that $62,000 level, Melker says he’d be looking for a trade right around the $60,000 area as a retest. Melker remains bullish on BTC, although he’s anticipating outsized returns in the altcoin market.

“Bitcoin is the most important asset ever created. If I had to choose one thing to hold, it would be BTC. That said, if you are a TRADER (not investor), the disproportionate upside from this point is likely in altcoins. They are far more likely to make you insanely wealthy.”

As a primary example, Melker says Ethereum is quietly breaking out against BTC and showing no signs of stopping. He was hoping to execute a trade in the $2,200 area, but so far the second-largest cryptocurrency hasn’t looked back.

$ETH apparently missed the Coinbase dump memo.

Absolutely crushing on the $BTC pair. pic.twitter.com/19lHTiOjXa

— The Wolf Of All Streets (@scottmelker) April 14, 2021

The trader is predicting Litecoin (LTC) will hit $347 in the short term. LTC is trading at $273.75 at time of writing, according to CoinGecko.

Melker is also bullish on XRP, noting that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple now appears to be boosting the asset’s price.

“It’s amazing what happens when the company is not selling and those coins are removed from the supply. You have tons of demand, FOMO (fear of missing out), and no huge players selling into it. So I believe that’s why we’re seeing this continued strength and it could continue to keep going if the FOMO remains… 

To me right now, any dip on XRP is probably for buying.”

XRP is trading at $1.77 at time of writing, nearly a 92% increase over the past seven days, according to CoinGecko.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
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/Wutana Thongkuanluek

Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,142.20
$23,142.20
0.52%
Ethereum
$1,590.16
$1,590.16
0.42%
Cardano
$0.381674
$0.381674
0.91%
XRP
$0.409835
$0.409835
0.01%
Dogecoin
$0.086519
$0.086519
0.3%

Spotlight

  • Bankrupt Crypto Lender Genesis Owes Over $3,800,000,000 to Firm’s Largest 50 Creditors
    January 23, 2023
  • Several Low-Cap Altcoins Are Quietly Witnessing Major Inflows After Impressive Returns on Larger Crypto Assets: Santiment
    January 26, 2023
  • Bitcoin (BTC) Recovery Unlikely To Be Easy, Warns Bloomberg Strategist Mike McGlone – Here’s Why
    January 20, 2023
  • Dogecoin (DOGE) Could Be on the Verge of a Big Breakout, According to Popular Crypto Strategists
    January 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl