An analyst, who knew in advance that Bitcoin will drop to $ 3,000 in the 2018 bear market, announced the altcoin he holds.
The analyst, known on social media as the Smart Contractor, told his more than 100,000 followers that he saw signs that the market correction was bottoming out this month, and the Bitcoin price would rise to $ 60,000 as a possibility.
TOMO has the potential to rise twice
The trader announced that it holds a large position on the scalable smart contract platform TomoChain (TOMO) and has the potential to double in value against its flagship cryptocurrency, Daily Hodl reports. He used technical analysis for Smart Contracter prediction:
$TOMO is now officially my largest alt bag
textbook IHS 5 waves up and abc down to the 0.618 on the btc pair, plus all the volume is in the right shoulder EXACTLY what we want to see in an IHS, expecting over 100% from here
— Bluntz (@SmartContracter) February 23, 2021
According to CryptoCompare data, the price of TOMO has already risen by over 86% in the last 30 days. The price is currently trading at $ 2.4.
Smart Contracter pointed to the S&P 500 index, which, according to him, shows investors’ risk appetite has improved and a bullish period in the stock market can also benefit cryptocurrency. The analyst also named the FTX Token (FTT) as a cryptocurrency he watches as it can come back harder than other crypto assets.
He said on social media that the local crypto asset of the popular derivatives trading platform FTX will be “one of the strongest and first to heal” according to the structure of the chart. Trader added that as the cryptocurrency market recovers, FTT’s price will exceed $ 40, reaching an all-time high.