Crypto Analyst Who Called 2018’s Market Bottom Predicts $AAVE, $ALGO, and $AVAX Rallies
A top cryptocurrency strategist that has gained a large following on social media after accurately calling bitcoin’s 2018 bear market bottom above $3,000, has revealed he sees decentralized finance protocol Aave pump in the near future, while also being bullish on Avalanche ($AVAX).
In a series of tweets shared with his over 200,000 followers on the microblogging platform Twitter, pseudonymous analyst Smart Contracter revealed he believes that in the next 12 months DeFi protocol $AAVE has a chance to make a new all-time high.
While the trader noted that DeFi protocols were affected the most by the cryptocurrency space’s recent sell-off, he also believes “most won’t stay like that” and he is liking how some Defi protocol charts show bullish technical patterns.
In a separate tweet, Smart Contracter quoted an analysis from another user, TheGhost, predicting the price of Ethereum competitor Avalanche ($AVAX) was set to rally in the near future after a period of accumulation. Smart Contracter agreed with the analyst and noted he is long AVAX for now.
As Daily Hodl reports, he also predicted another Ethereum competitor, Algorand ($ALGO) could move up to the $1.5 to $1.6 mark, although he wouldn’t be confident in predicting a move above those levels.
It’s worth noting ALGO is currently trading at $0.94, down from an all-time high well above the $2 mark seen last year. AVAX and AAVE are also recovering from significant sell-offs seen after they hit new highs.
It’s worth noting Smart Contracter is famous for, in June 2018, predicting the bear market that was seeing the price of bitcoin drop from a then all-time high near $20,000 would end with the coin trading at $3,200. The prediction was nearly accurate, as BTC hit the target in December of that year.
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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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