A popular crypto analyst believes Ethereum (ETH), Bitcoin (BTC) and one altcoin are about to blast off and leave the recent market-wide slump in the dust.
The pseudonymous crypto strategist and trader Kaleo tells his 454,000 Twitter followers that ETH’s time to shine has arrived as the “king” of the layer-1 blockchain protocols.
The analyst says,
“ETH is so bullish after the most recent flush it’s not even funny.
We’ve seen a major rotation play among the alt [Layer-1s] the past few months.
It only makes sense that the king of the L1s finally has a chance to suck liquidity from the rest of the market and have a run of its own.”
Ethereum is about even on the day, trading for $4,346 at time of writing.
Kaleo next looks at Bitcoin and says he still believes the top crypto will reach at least $100,000 during the current cycle.
“I’ve said it before and I’ll say it again – I still expect to see Bitcoin have a parabolic move to top out at $100K+ this cycle.
I’ll gladly start scaling out around $150K. I expect it to go higher, but I’m not concerned with nailing the top. Until then, just keep stacking.”
BTC currently sits at $50,900 after having battled back from a flash-crash low around the $43,500 level on December 3rd.
Lastly, the crypto analyst lays out his price prediction for the Terra (LUNA) protocol, whose native token LUNA underpins a suite of decentralized stablecoins.
Kaleo tells his followers that Terra reaching the $100 threshold is inevitable.
“LUNA going to $100 from here is only a matter of time.”
LUNA has seen some wild price action in recent days, with the altcoin tumbling from $69.66 to $53.64 late last week before surging to $77.37 on Sunday.
The 10th-ranked crypto has since corrected but is back up 5% on the day to $70.74.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
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/hobbit