on the crypto
The trader who effectively and accurately predicted the cryptocurrency crash of 2022 is a relatively well-followed user on Twitter. He recently took the opportunity to point out which cryptocurrencies he is bullish on and which he sees thriving in the coming months despite the current situation.
A trader who knows how to read the future
A trader named CryptoCapo_ on Twitter successfully predicted the collapse of cryptocurrencies sometime ago this year. It turns out that given the current situation, his prediction is now the reality we are facing.
With over 555.000 followers on the bluebird social network and his ability to make predictions that are then realized, this trader clearly has some influence, but we also have the right to wonder if he will be able to see right again for months and years. years to come.
So, when he announces the cryptocurrencies he is positive in and wants to invest in for the long term, he wants to listen to him a little and understand the logic behind his choices.
His point of view on Bitcoin
Chief believes Bitcoin could rise slightly to around $ 21.000 (at the time of writing the current price is $ 19.562, up 2,37% over the past 7 days). On the other hand, the resistance at this level is very strong and at the same time the altcoins might temporarily pump, which would make them more attractive than the BTC.
According to this trader, the Bitcoin situation remains relatively bearish and the value of BTC could drop to around $ 14.000. He therefore urges traders to take their profits as soon as possible if such a situation arises.
As a result, Bitcoin's near-term future appears to be very uncertain, according to Chief. Of course you will need to be patient and come to your own conclusions on which strategy to adopt, but it is clear that Bitcoin is experiencing a difficult year due to the collapse of the market, but also due to external elements that influence it, such as inflation and The Merge. which highlighted the excessive energy consumption of Bitcoin with its Proof of Work mechanism.
However, the accumulation of BTC by whales over the past few weeks suggests that the cryptocurrency may rise soon. Whether this is a temporary phenomenon or a longer-term trend that will generate a new bull run remains to be seen.
Ethereum (ETH) and Stellar Lumens (XLM) over the long term
The well-known trader intends to invest in Ethereum, the second most popular currency on the market after Bitcoin, and in Stellar Lumens, a competitor of Ripple, which according to CoinMarketCap ranks 25th on the market.
Ethereum is currently trading at $ 1326, up 3,30% over the past 7 days. It turns out that the current price of ETH is relatively low and this looks like a good buying opportunity. Additionally, a rise in ETH is likely, as more and more addresses own this altcoin, which could increase demand and thus drive up the price.
Furthermore, Ethereum after the merger is in a sense a new cryptocurrency whose potential and novelties are still to come. In fact, The Merge has prepared the platform for the introduction of several upcoming updates that should greatly increase the scalability of the blockchain.
Furthermore, thanks to its Proof of Stake mechanism, Ethereum's energy consumption has relatively decreased by at least 99%, making it a green cryptocurrency. The environmental cause is a point not to be overlooked. Cryptocurrencies are often mentioned in this regard.
Stellar Lumens (quotation XLM) is priced at $ 0,1127 and is Ripple's direct competitor (XRP). In the future, therefore, it could also act as a connecting wedge between banking institutions and the cryptocurrency sector. It is undeniable that banks and the traditional business world in general need to evolve and that in the future it will likely be a hybrid that will mix cryptocurrencies. XLM lends itself very well to this possibility.
