Top Trader Reveals Bullish Altcoins and Predicts Market Strength
A popular crypto analyst has identified two altcoins that he believes have significant potential as Bitcoin’s price surges past $38,000. The trader, known as The Flow Horse, shared his insights with over 188,000 followers on X, a social media platform.
The Flow Horse expressed optimism about Chainlink (LINK), a blockchain oracle provider, and Solana (SOL), a competitor to Ethereum. He also mentioned that projects associated with artificial intelligence and new coins with low available floats are worth considering.
At the time of writing, Chainlink is trading at $14.58, showing a 2.2% increase in the last 24 hours. Similarly, Solana is priced at $57.92, reflecting a 5.6% increase during the same period.
Predictions on Market Strength and ETF Approval
The trader also made predictions about the overall market strength and the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). According to The Flow Horse, if the ETF is approved, the market will experience an upward surge followed by a sell-off.
The trader emphasized that significant investors are unlikely to sell before the ETF decision and that current sell-offs are minor leverage washouts and spot dumps that are quickly bought back up. The trader advised caution when shorting and suggested keeping it tactical.
Bitcoin Price Update
As for Bitcoin’s price movement, it is currently trading at $38,164, showing a 2.8% increase in the last 24 hours.
Hot Take: Bullish Altcoins and ETF Approval Scenario
A well-known crypto trader has highlighted Chainlink and Solana as altcoins with bullish potential amidst Bitcoin’s recent surge. The trader also predicted that the market will remain strong if a spot BTC ETF is approved by the SEC. However, caution is advised, as any potential sell-offs are expected to be short-lived. With Chainlink trading at $14.58 and Solana at $57.92, investors are keeping a close eye on these promising altcoins.
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