A prime cryptocurrency strategist that has gained a big following on social media after precisely calling bitcoin’s 2018 bear market backside above $3,000, has revealed his principal altcoin place on a little-known cryptocurrency.
The pseudonymous analyst, generally known as Sensible Contractor on social media, advised his over 100,000 followers he has been seeing indicators the market correction has bottomed out this month, and sees a surge in bitcoin’s value to $60,000 as a chance.
The dealer, as Daily Hodl reviews, revealed he has a big place within the scalable good contract platform TomoChain (TOMO), which per his phrases has the potential to double in worth in opposition to the flagship cryptocurrency. Sensible Contracter used technical evaluation for his prediction:
The worth of TOMO has, in accordance with CryptoCompare data, already moved up over 86% within the final 30 days, as every token is now buying and selling at $2.4, up from a little bit over $1 a month in the past. The cryptocurrency was beneath that mark for many of final yr.
Sensible Contracter additionally pointed to the S&P 500 index which, in accordance with him, exhibits buyers’ threat urge for food is recovering, and a bull interval within the equities market might additionally profit crypto, he mentioned. The analyst additionally named the FTX Token (FTT) as a cryptocurrency he’s eyeing, because it might bounce again tougher than different cryptoassets.
On social media, he mentioned the native cryptoasset of the favored derivatives buying and selling platform FTX “can be one of many strongest and first to get well,” based mostly on the chart’s construction. The dealer added he sees the value of FTT crossing over the $40 mark to hit a brand new all-time excessive because the cryptocurrency market get well.
It’s price noting Sensible Contracter is known for, in June 2018, predicting the bear market that was seeing the value of bitcoin drop from a then all-time excessive close to $20,000 would finish with the coin buying and selling at $3,200. The prediction was almost correct, as BTC hit the goal in December of that yr.
Featured image by way of Pixabay.