A prominent crypto trader and analyst is looking at three altcoins that he says have the potential to spark major rallies.
The pseudonymous trader Kaleo says fellow traders are underestimating Litecoin (LTC). He believes the coin often dubbed as digital silver is poised to follow its 2017 bull rally and generate gains of over 1,000% from its current price of $203.
“LTC 2017 fractal. If this plays out, there’s still time to accumulate, but you see why it’s worth it to slowly stack…
Now is the time to stack LTC. Litecoin has vertical moves, usually from points of max pain vs. BTC. When it finally goes off, it’ll move faster than you have time to FOMO into it. Buy a little each day now. Thank yourself later.”
Another coin on Kaleo’s radar is Chainlink (LINK).
The trader believes the decentralized oracle network will follow the footsteps of Solana (SOL), which more than doubled its value in a span of a few weeks.
“LINK SOL.”
The third coin on Kaleo’s list is Algorand (ALGO), a project that aims to develop a blockchain that’s scalable, secure, and decentralized.
He says the crypto asset is gearing up to pull off a 242% rally to $6.00 from its current price of $1.75.
“Remember the big picture. ALGO is only just getting warmed up.”
Kaleo is also invested in Stellar Lumens (XLM), Balancer (BAL), and Band Protocol (BAND).
As for Bitcoin, the crypto strategist says it is not yet too late for investors to jump into the largest crypto asset.
“Bitcoin/BTC. We’re still early.”
Based on Kaleo’s chart, Bitcoin is taking a page out of its 2017 bull market where it consolidated below $2,000 before surging to its previous all-time high of $20,000.
This time, the trader believes Bitcoin is setting the stage for a meteoric ascent that would catapult BTC to $250,000 by July 2021.
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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 loses 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.
Featured Image: Shutterstock/AleksandrMorrisovich