Popular trader Credible Crypto thinks one large-cap altcoin that some are counting out could see new all-time highs in the coming months.
The pseudonymous analyst tells his 222,000 Twitter followers that Litecoin (LTC) could capitalize on the final “legendary” leg of the current bull run.
“Seeing a lot of people saying LTC had its ‘bull run’ and it’s headed to the grave.
I don’t trade fractals, but I do think we will see something similar to what we saw in 2017 on the left. Not just for LTC but for much of the ‘old guard.’ Still think new ATH is on the cards.”
As for the timing of his prediction, he thinks the final rally will begin “after some months” of consolidation have passed.
Credible Crypto also thinks Bitcoin Cash (BCH) could see all-time highs. And he warns traders not to count out XRP.
“XRP was also one of the worst-performing majors in 2017, until it wasn’t. In the 30 days following BTC’s peak, XRP rallied over 10x bringing total gains for its cycle to 62,947% or 629x. Don’t count it out simply because it has had a slow start.”
Additionally, the analyst says the market is pushing into a key area of demand for the decentralized public network Hedera Hashgraph (HBAR).
“Did not think we were going to get a 3rd chance to buy at these levels but the market felt kind.
Note that each successive drive down is aggressively bought up indicating seller absorption as we push into a key HTF area of demand. Buyers are stepping in here, repeatedly.”
Credible Crypto predicts that Bitcoin (BTC) will move towards $45-55,000 if it can break $35-38,000. If it goes higher, he plans to short it.
“If we can get to 55k I’ll look to hedge short. I know if we manage to get there many will be euphoric- calling for new ATH when in reality that region is the most likely place to see a mid-term rejection. Have a plan.”
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/Wlad74