The closely-followed crypto trader known as Smart Contracter is predicting a mega rally in an emerging altcoin just as Bitcoin is bottoming out.
In a series of new tweets, Smart Contracter tells his 129,500 followers that he has his eye on an altcoin that he says is currently way undervalued.
[adinserter block="1"]Smart Contracter says that SRM, the native token on Solana-based decentralized exchange (DEX) Serum, is primed to nearly double in value in the coming weeks.
“So close to an SRM all-time high breakout, coming out of a 60-day reaccumulation. I daresay once it happens, it’ll run for quite a bit. Feels criminally cheap for a Samcoin (Sam Bankman-Fried) and compared to the run SOL (Solana) has had.”
At time of writing, SRM is trading at $10.59, printing gains of over 21% in the last 24 hours, according to CoinGecko.
As for Bitcoin, the trader says the leading cryptocurrency has already bottomed out after completing an ABC corrective wave, a three-wave pattern based on the Elliott Wave theory that triggers a pause in the asset’s uptrend.
“All subwaves accounted for now. I think that was the low. Send it, BTC.”
Despite being bullish on Bitcoin, Smart Contracter expects Ethereum to massively outperform the flagship cryptocurrency as he predicts a giant rally in ETH/BTC.
“ETH/BTC is going to 0.10. 118% higher. that’s the tweet.”
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