A closely-followed trader who continues to build his following with timely calls on the crypto market is revealing his giant targets for Cardano and two other digital assets.
In a new tweet, the pseudonymous crypto trader known as Capo gives huge end-of-the-year price predictions for Cardano (ADA), Bitcoin (BTC) and Ethereum (ETH).
— il Capo Of $NOIA (@CryptoCapo_) June 13, 2021
Based on current prices, Capo’s predictions imply a 156% rally for BTC, a 302% increase for Ethereum and a 557% surge for Cardano.
The trader predicts that the Bitcoin Dominance Index, which compares BTC’s market capitalization to the rest of the crypto space, would continue to fall until October. The downtrend suggests that altcoins could be poised to make big moves in the coming months.
“My view on altcoins.”
Though altcoins have massively corrected against Bitcoin in the last few weeks, Capo says the pullback offers the chance to buy at lower prices.
“Yes, ALTS/BTC charts look like sh*t right now. But instead of complaining, try looking for opportunities. The best opportunities arise at times like this.”
As for Bitcoin, Capo highlights that BTC bulls are in control above $42,000 while bears have more influence on the market below $30,000.
All in all, Capo is bullish on the crypto markets and expects parabolic rallies to lead us into 2022. He says things won’t turn out well for traders who try to short the market.
“Shorters will be destroyed.”
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Featured Image: Shutterstock/Dmitriy Rybin