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Analyst: Explosive Bitcoin Price Action Will Give Ethereum, XRP and Two Altcoins Room to Fly

August 17, 2020

A crypto strategist who made the counterintuitive and correct call of a major Bitcoin pullback earlier this year is back with a new set of provocative predictions.

The pseudonymous analyst Capo tells his crew of 17,000 on Twitter that he expects Bitcoin’s explosive volatility to continue, with BTC sinking back down to the $11,000 range in the short term. After that, he expects altcoins to have room for another big move to the upside.

First le pump, then le dump. pic.twitter.com/G5AqiRBJrP

One altcoin on the trader’s list is Ethereum.

He expects the second-largest cryptocurrency to nosedive to around $360 before resuming its ascent and climbing above $470.

The analyst is also looking at XRP.

He sees the third-largest cryptocurrency surging above $0.70, representing an increase of over 130% from its current price of $0.30.

As for low-cap coins, the strategist is keeping an eye on Constellation (DAG).

He expects its BTC base pair to follow the footsteps of VeChain (VET/BTC) and possibly pull off a massive rally of over 900%.

Capo is also bullish on the small-cap crypto Telcoin (TEL). He says that the recent price action of TEL/BTC indicates upside potential.

“Reclaim of a key level and test as support. Bullish.” 

In January, when Bitcoin was bullish and threatening to take out key resistance of $10,000, the analyst made a daring call and said he expected BTC to carve a bottom at $4,500.

His target was hit in March, as the leading cryptocurrency plunged to $3,850 at the height of the coronavirus-induced sell-off.

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 losses 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.