These Altcoins Might See 2-3x Rally Soon, With Bitcoin (BTC) Price Surging Above $50k

The post These Altcoins Might See 2-3x Rally Soon, With Bitcoin (BTC) Price Surging Above $50k appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The crypto market has shone bright and made significant gains today. Above $46,000, Bitcoin stayed in a bullish zone. Ether (ETH) broke through the resistance at $3,320 and $3,400.

The altcoin that stood out was WAVES as it increased by more than 50% after the corporation announced its leadership in the United States.

After surviving a multi-month downturn, a famous crypto analyst and trader believes three cryptocurrencies are set to skyrocket in price. Altcoin Sherpa, a pseudonymous trader, informs his Twitter followers that “nobody sane” is currently pushing for fresh all-time highs in the altcoin market.

However, he believes that many crypto assets might see a 2-3x price increase from their recent lows. The analyst gives three crypto assets as examples, all of which he expects will rise by roughly 200 percent from their mid-March lows.

Altcoins Bullish Outlook 

Compound (COMP), a decentralized finance platform for borrowing and lending crypto assets, might go over the $290 mark, according to Altcoin Sherpa.At the time of writing, COMP was trading at $124.50.  

Theta Network (THETA) could rise above $6.50, according to the trader. Theta Network is a peer-to-peer video content sharing platform. At the time of writing, THETA was trading at $3.79.

CAKE, the native token for decentralized exchange PancakeSwap, might possibly rise beyond $17, according to Altcoin Sherpa. At the time of writing, CAKE was trading at $8.12.

Altcoin Sherpa emphasizes that he is not advising traders to purchase these three crypto assets. Rather, he sees them as representative of the altcoin market as a whole.

Bitcoin (BTC)

According to the expert, Bitcoin remains at the center of his whole market strategy (BTC).

“In this climate, active market participants, such as traders and rotators, will be rewarded the most. In these settings, I believe liquidity will continue to flow from one industry to the next.”

His strategy is to wait for BTC to reach $50,000 – $55,000, at which point he’ll dump most of his shitcoin positions and de risk a little. He says he will preserve  core investments in many of the companies he adore, but sell some to compound.