Crypto trader makes bold altcoin market cap prediction and breaks down Polkadot (DOT) and Bitcoin (BTC).
A widely followed crypto analyst dives deep into the altcoin markets and predicts what could lie ahead.
Pseudonymous crypto trader Rekt Capital tells his 377,900 followers on social media platform
“Altcoin market cap experienced two historic retests last month.”
Source: Rekt Capital/X
Based on his analysis, the crypto trader believes that the market capitalization of altcoins may soon reach new heights.
“Altcoin market caps are likely to reach new all-time highs this cycle.”
Looking at a top altcoin, Polkadot (DOT), the interoperability blockchain, Rekt Capital says DOT has recently seen a surge of over 60%.
“Looks like the Polkadot retest was successful
Polakdot is up +66% since breaking out of its macro market structure.”
Source: Rekt Capital/X
At the time of writing, DOT is worth $8.07, up 13.7% over the last week.
Finally, looking at the top cryptocurrency by market cap, the analyst says Bitcoin (BTC) is witnessing a nice recovery from the $41,200 price zone.
“Bitcoin fell to around $41,200 and rebounded strongly, forming a new higher low in the process.
Furthermore, Bitcoin has managed to regain the lost range (green).
Retesting the Range Low is currently technically underway and so far so good.”
Source: Rekt Capital/X
At the time of writing, BTC is trading at $43,682.
Don't miss a thing – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check out the latest headlines
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured image: Shutterstock/Alberto Andrei Rosu/Natalia Siiatovskaia
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.