A prominent analyst names four medium to large capitalization altcoins that are likely to outshine Bitcoin (BTC) in the coming months.
The person known in the industry as Capo told his 173,000 Twitter followers that he expected big strides from the Cardano (ADA) smart contract platform.
“ADA / BTC. Expect a strong jump from here“.
The source: Capo / Twitter
Capo, who uses Elliot wave theory for most of his analysis, says ADA and several other crypto assets are ready for another bull run.
Elliot Wave Theory is a form of technical analysis that predicts future price movements by determining investor sentiment through each wave.
He suppose i think The Perpetual Futures Altcoin Index is starting a new bullish wave and could soon hit ATH.
“ALTPERP’s upward trend is still intact. There is also a potential cup handle model that is very expandable. Maybe it started wave 3 because a lot of altcoins start their wave 3 too“.
The source: Capo / Twitter
Kapo is too Consider NOIA, the native token of the Syntropy ecosystem. He believes the altcoin will outperform BTC in the coming weeks and months. Syntropy is an open source protocol that aims to improve the Internet through encryption and performance optimization. At press time, NOIA is trading at $ 0.40, according to CoinGecko, up 14% over the past week.
Next on the list of analysts is COTI, an enterprise-class platform that enables companies to develop their own payment solutions and digitize any form of currency.
– il Capo from $ NOIA (@CryptoCapo_) October 6, 2021
According to the analyst, COTI / BTC is approaching an important area of support and a recovery could take place from here.
Last on Capo’s list is the decentralized machine learning network Fetch.ai. The FET is currently trading at $ 0.77, a 35% decline from its all-time high of $ 1.17 in early September.
Capo also gave reasons why he believes a new altcoin season is coming.
“During bull markets, money tends to flow from bitcoin to altcoins because people [tham lam] and always want more profit.
Now Bitcoin confirms the bullish scenario and could hit the target of $ 100,000 or more in the next few months. This will create the perfect backdrop for people to get comfortable and speculate with altcoins. “
He believes the dominance of Bitcoin (BTC.D) will continue to decline in the short term, but also warns of the end of the bull market.
“A huge potential bearish divergence is developing and the green support area is weakening.
In my opinion, BTC.D will hit the bottom of 2018 (36.50%) and the altcoin season could end there. “
The source: Crypto-Capo / Twitter
You can see the coin prices here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Dailyhodl