Cardano, Five Altcoins Set To Outperform Bitcoin As New Phase Of Market Cycle Begins, Crypto Strategist Predicts

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A popular cryptocurrency strategist and trader said six mid-to-large cap altcoins will likely shine brighter than Bitcoin (BTC) in the coming months.

The pseudonymous crypto analyst known in the industry as Capo tells his 173,000 Twitter followers that he expects big moves from the Cardano smart contract platform (ADA).

ADA is currently trading at $ 2.28, virtually unchanged from a week ago after struggling against a low of $ 2.13 on Wednesday.

Capo, who uses Elliot Wave theory for much of his analysis, says ADA and a number of additional crypto assets appear to be at the start of a new altcoin season.

Elliot Wave Theory is a form of technical analysis that aims to predict future price movements by identifying the collective psychology of traders that appears on wave charts.

It signals a new bullish wave that appears to be starting in the Altcoin Perpetual Futures Index as a sign of what’s to come.

“The ALTPERP uptrend is also intact. It also forms a potential cup and handle, the minimum extension of which is very high. Maybe the w3 starts here because a lot of altcoins start their w3.

Source: Capo / Twitter

Capo is also looking for NOIA, the native token of the Syntropy ecosystem, to outperform BTC in the weeks and months to come. Syntropy is an open source protocol aimed at improving the Internet through encryption and optimized performance. NOIA is priced at $ 0.40 at the time of writing, up 14% from last week, according to CoinGecko.

Next on the analyst list is COTI, an enterprise-grade platform that allows organizations to build their own payment solutions and digitize any form of currency using the Trustchain network data structure protocol. CoinGecko fixes the COTI at $ 0.52, down 14% from $ 0.60 a week ago.

Next, the decentralized machine learning network Fetch.ai. The FET token is valued at $ 0.75, down 35% from its all-time high of $ 1.17 in early September.

The Ethereum-based virtual world known as The Sandbox is also on Capo’s list of coins that appear poised to overtake Bitcoin. The platform’s native SAND token is designed to allow users to monetize their gaming experience. SAND currently sits at $ 0.79, having fluctuated between $ 0.76 and $ 0.88 since last Friday, according to CoinGecko.

Last on Capo’s list is the esports and blockchain-based video entertainment protocol Verasity. Its native VRA token has risen 60% over the past week to $ 0.05, including a 30% increase in the past 24 hours.

Capo further explains in a long thread why he sees a new altcoin season in the works. He says Bitcoin appears to be aiming for the six-digit mark.

“During bull markets, money tends to shift from Bitcoin to altcoins because people [are] greedy and always want more profits.

Now Bitcoin is confirming the bullish scenario, and targets of $ 100,000 and above are expected to occur in the coming months. This would create the perfect scenario for people to feel comfortable and start speculating on altcoins. “

He also sees signs that Bitcoin’s dominance over the overall crypto market cap will decline, but warns of the potential for a major correction in early 2022, which could end the shoulder season as well as the global cycle of crypto bull.

“Huge hidden bearish divergence is emerging and green support is weakening.

In my opinion, it will take the lows of 2018 (36.50%) and the altseason could end there.

Source: Crypto Capo / Twitter Liability: Opinions expressed at Daily Hodl are not an investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling 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 / tunnelmotions / Dario Lo Presti

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