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.
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.”
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/SimpleB
