A widely followed cryptocurrency trader and analyst is predicting a major Cardano (ADA) rally.
However, Capo says that altcoin Polkadot (DOT), currently the eighth-ranked cryptocurrency by market cap, now looks like a better trade.
“Many people ask me about ADA.
I’m still bullish on it and $10+ is very likely this cycle, but DOT looks much better so I sold my ADA for DOT some days ago.”
Cardano is trading for $2.03 at time of writing, according to CoinGecko.
Towards the end of October, Capo predicted that he was expecting Polkadot to hit a price of $250 and then launch to $650.
“DOT – Very bullish. It should outperform all the majors. Main targets are $250 and $650.”
Last month the cryptocurrency analyst predicted that Polkadot would outperform Cardano by the end of the current bull cycle. Capo said that Polkadot would also outperform Solana (SOL), Binance Coin (BNB), Ethereum (ETH), and Bitcoin (BTC).
“Expected performance until end of the cycle:
DOT > SOL > BNB > ADA > ETH > BTC”
Around the same time, the crypto trader said while looking at the Bitcoin chart that he was “bullish” on Ethereum, “very bullish” on Cardano, and “mega bullish” on Polkadot.
“DOT/BTC mega bullish
ADA/BTC very bullish
If you want to be bullish on BTC.D [Bitcoin dominance] here, it’s up to you. I’m all-in altcoins.”
Polkadot is exchanging hands at $52.88 at time of writing.Check Price Action
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/NextMarsMedia/Salamahin