A popular crypto analyst who nailed the 2018 Bitcoin (BTC) bear market bottom says he expects Aave (AAVE) and two Ethereum (ETH) competitors to erupt.
Pseudonymous trader Smart Contracter tells his 205,400 Twitter followers that it is a real possibility for decentralized finance (DeFi) lending and borrowing protocol Aave to print a new all-time high within a year after a massive 84% drawdown.
“It’s actually pretty easy to find nice charts like this at the moment, but I’m really digging DeFi again. It got rekt the most, but won’t stay like that, in my opinion. [I] wholeheartedly believe the next 12 months has a shot of new all-time highs.”
At time of writing, Aave is trading at $173. A move to a fresh all-time high suggests that Aave has an upside potential of over 257%.
The next coin on the trader’s list is smart contract platform and Ethereum competitor Avalanche (AVAX). Smart Contracter says he agrees with the assessment of his fellow trader TheGhost who believes that AVAX is gearing up for a breakout.
At time of writing, Avalanche is exchanging hands for $91.02.
The last coin on Smart Contracter’s radar is Algorand (ALGO), a blockchain for decentralized finance applications. According to the crypto strategist, he sees ALGO sustaining its bullish momentum above $1.00.
“Move to $1.50-$1.60 looking good in my opinion. [I] wouldn’t be confident on speculating much higher than that though.”
At time of writing, Algorand is trading at $0.92, suggesting an upside potential of around 70% to Smart Contracter’s target.
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