A trader who predicted Bitcoin’s deep plunge to $4,000 in March says one of the year’s most talked-about altcoins is now ready to erupt.
The pseudonymous analyst known in the cryptoverse as Capo tells his 20,000 Twitter followers that Chainlink’s (LINK) correction, which saw the coin’s value crash from its all-time high of $19.85 to below $9.00 from mid-August to September, might be coming to an end. According to the trader, the decentralized oracle network is in a position to parabolically rise to $31 before 2020 expires.
“If you are surprised by the BTC breakout, wait for LINK to take off.”Source: Capo/Twitter
As for Bitcoin, the analyst is bullish on the leading cryptocurrency but he believes that BTC must push through a few resistance levels at around $13,000, $15,000, and $17,000 before skyrocketing.$BTC S/R flip confirmed. Going for the first target. Send it. pic.twitter.com/tVUUEVfgy7 — il Capo Of Crypto (@CryptoCapo_) October 20, 2020
Looking at Ethereum, Capo is extremely bullish on the leading smart contract platform.
“I’d buy the entire ETH supply if I could.”
The crypto trader expects ETH to ignite a steep upwards movement and outperform BTC.
“I have no doubt that ETH will perform better than BTC in the next bull cycle.”Source: Capo/Twitter
Capo is also keeping a close eye on the ETH/BTC pair. In a new tweet, the trader implies that ETH/BTC may have pulled off a big bear trap.
“Oh boy.”Source: Capo/Twitter
Other analysts are also bullish on the world’s dominant cryptocurrency. Prominent trader Smart Contracter tells his crew of 65,000 that BTC is ready to explode to $16,000.
“Still just under 2 hours to go but looks like we’re going to get another ripper daily close on BTC. Looking like a double extension of the wave three of this leg up is forming instead of a single extension, kind of feeling $14,000 won’t prove as much of a resist...