Bitcoin Cash, Litecoin, Cardano: Analyst says ‘bottom is in for’ one of these alts
The cryptocurrency market has seen a lot of bear and bull actions in the past couple of months. While the overall cap had surged above $2T mark, now it’s going through a setback. Bitcoin (and its forks) and altcoins have experienced a good amount of volatility. It’s no different, this time around.
However, BTC dominance shed more light on the alts, such as ETH, XRP, ADA, LTC and other trending altcoins. Popular analyst, Credible Crypto, expressed his support for Bitcoin’s fork- Bitcoin Cash. He stated that he saw ‘huge potential’ in the alt.
Bitcoin Cash, at the time of writing, was trading at the $625 price level after registering a price correction. Nevertheless, the trader thought of the current ‘dip’ as the perfect opportunity for traders. According to his tweet:
“I still really like BCH as one of my top picks here overall. I do think that the bottom is in for it- I can’t really see us revisiting the 300’s again. Impulse invalidation is at $200- so this makes for an incredible R/R opp the lower we go. Looking for this for now.”
This wasn’t the first time he expressed his support for BCH. Recently one of his tweets stated:
— Credible Crypto (@CredibleCrypto) May 13, 2021
He also revealed his interest in yet another alt. He said:
“I’m more interested in HBAR as a hold and BCH as a trade.”
After Elon Musk’s call for sustainability, HBAR is an altcoin that has been trending. It was quite evident from its increased social volume, according to data from LunarCrush.
The analyst projected a rally of around $2 to $5 in another tweet. At the press time, HBAR traded at $0.248.