Connect with us

Bitcoin Cash

Bitcoin Cash, Litecoin, Cardano: Analyst says ‘bottom is in for’ one of these alts

Published

on

Source: Unsplash

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.”

Source: Credible Crypto|Twitter

This wasn’t the first time he expressed his support for BCH. Recently one of his tweets stated:

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.

Source: LunarCrush

 

The analyst projected a rally of around $2 to $5 in another tweet. At the press time, HBAR traded at $0.248.

Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.


Please select your Email Preferences.

Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *