One closely followed cryptocurrency strategist says he is gobbling up seven altcoins because he believes markets are about to enter a bull market cycle similar to the parabolic rally seen in mid-2020.
The analyst goes by the alias The Flow Horse Tells He told his 200,900 followers on the social media platform X that the cryptocurrency markets are about to head into a “period of madness.”
The analyst says this period will likely be similar to the extremely bullish cryptocurrency price movement in 2020 when Bitcoin rose from around $10,000 to $64,000 in less than a year. During the same time frame, the total market cap of altcoins (TOTAL3) increased by almost 1,000% from approximately $73 billion to $793 billion.
He says flow horse,
“Yes, we are on the same path now. That is why I emphasized that the euphoria we have seen recently and any pullbacks should be understood as small in scale within a much larger trend and unimaginable set of circumstances.”
In anticipation of a huge market-wide rally, the analyst says he is accumulating a few altcoins including native assets of smart contract platforms Solana (SOL), Near (NEAR), Sui (SUI), and Avalanche (AVAX).
“Some positions are growing and some are completely new as of today:
- Meena
- but
- fax
- Sol
- Render
- WIF
- close.”
As for Bitcoin (BTC) in circulation Believes The current rally will not stop at $50,000.
“It looks like Bitcoin is going to go much higher.
“Make sure you keep an eye on those faster horses, and don’t be a fool trying to outdo what the market is already offering you by looking for a third in line.”
At the time of writing, Bitcoin is worth $50,032.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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