Analyst Who Predicted Bitcoin Bottom Says 7 Altcoins Are Set to Erupt

Tuesday 01 December 2020, 6:45 PM AEST - 1 month ago

A crypto strategist known for accurately predicting the Bitcoin 2018 bear market bottom is listing seven decentralized finance (DeFi) tokens that he believes are poised to explode.

The pseudonymous analyst known as Smart Contracter says Aave (AAVE) is a high-conviction bet as he believes the DeFi asset is set to break out from a bullish pattern.

Admittedly, Im still unsure on BTC at the moment, I can make a case for both sides. However, a lot of major DeFi projects I am very bullish on and have a lot more confidence in longs.

Aave for example is gearing up to break this ascending triangle any time now.

Source: Smart Contracter

The crypto strategist relies on the Elliott Wave Theory, which seeks to identify recurring wave patterns to predict the behavior of market participants. Based on Aaves trajectory, Smart Contracter believes that the DeFi darling will surge over 60% within the next two weeks.

AAVE going parabolic soon. Youve been given ample warning last chance to hop on before the run to all-time high.

Source: Smart Contracter

The analyst also takes his prediction a step further, saying Aave will erupt to a minimum of $150 by early next year, representing growth of over 100% from its current price of $74 in about two months.

$150 dollah for AAVE is inevitable. Once we clear that $90 resistance, price discovery will begin. Ill say $150 for the lols but i think it could go much, much higher than that.

Source: Smart Contracter

Smart Contracter is also looking at a select group of additional DeFi assets which he believes would perform well against Bitcoin (BTC).

He says Synthetix (SNX/BTC), Sushi (SUSHI/BTC), Uniswap (UNI/BTC), PowerPool (CVP/BTC), and yearn.finance (YFI/BTC) all have the potential to print 100% gains.

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