A famous trader who saw Bitcoin’s historic surge in October points out 5 cryptocurrencies that could increase 40% by the end of the year

Famous cryptocurrency trader and co-host of Altcoin Daily, Aaron Arnold, is bullish on the crypto market and doesn’t think investors will see a big correction in the market until the end of the year.

For this reason, in a recent video, Arnold shares the top five crypto assets that he believes are ready to print profits of more than 40% by the end of the year.

The analyst got it right when he stated on Oct. 1 that Bitcoin (BTC) would beat its all-time high of $ 64,000 this month. According to him, at the time, various metrics (that didn’t depend on the SEC-approved ETF) indicated that October was going to be a record month for BTC.

“In 2013, Bitcoin was on the side for 174 days and in 2017 it was 55 days before it hit new all-time highs. Now BTC is in the final phase of a phase that has already lasted 167 days and a new all-time high in October, “he said and then hit the cryptocurrency’s valuation hard.

A famous trader who saw Bitcoin’s historic surge in October points out 5 cryptocurrencies that could increase 40% by the end of the year
A famous trader who saw Bitcoin’s historic surge in October points out 5 cryptocurrencies that could increase 40% by the end of the year

Now the analyst is telling his 1.08 million YouTube subscribers that his first option in the cryptocurrency market to “close the year” is Polkadot (DOT).

Polkadot and avalanche

According to him, Arnold believes that with the arrival of the platform’s long-awaited parachain auctions, which will allow the launch of blockchain on the network, DOT will rebound in November. He shared a tweet from the Polkadot team in which he Applied the application to allow the registration of parachains.

“The Parachain auctions will likely start on November 4th, and if they don’t happen on November 4th, [entonces] they will occur sometime around this date. What I mean is that Polkadot is taking its next level, ”he said.

Next on the analyst list is Ethereum (ETH) competitor Avalanche (AVAX). Arnold notes that AVAX is becoming increasingly popular with venture capitalists.

“The Avalanche Foundation continues to channel venture capital into its ecosystem, which means it attracts some of the best in the field. That’s very optimistic for Avalanche, ”he says.

In addition, the operator points out that the Avalanche Foundation has just launched Blizzard, a $ 220 million mutual fund that supports the development of decentralized financial platforms (DeFi) and non-fungible tokens (NFT) as well as other “emerging use cases”.

Cardano, Decentraland and THORChain

Another cryptocurrency on the operator’s list is Cardano (ADA), which points to data from Cardano’s intelligent blockchain, suggesting that usage on the network is growing rapidly.

“Bullish at Cardano, mostly for this reason: Cardano (ADA) usage is increasing, whether it’s total number of transactions, transactions per day, total commissions per day … This is all incredibly optimistic. For Cardano and it is good to see that his ecosystem is growing so fast. “â ????

Another crypto currency in the crosshairs of the analysts is the native token of the leading blockchain-based Metaverse platform Decentraland (MANA). He claims that Facebook’s announcement to focus on the evolution of the metaverse drew investors’ attention to the sector, which may have contributed to the price of MANA rising more than 300%.

According to the analyst, the enthusiasm for MANA could begin and gain in importance with the developments of the large companies in the Metaverse.

Finally Arnold takes a look at THORChain (RUNE). It underscores the protocol’s ability to enable cross-chain exchanges between Ethereum, Bitcoin, Binance Smart Chain (BSC) and THORChain, which gives DeFi more interoperability.

“To be honest, the more I learn about THORChain, the more interested I get. It just seems useful. Of course there is no KYC (Know Your Customer) with any of this, which in turn makes it great, ”he concludes.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you will need to do your own research when making a decision.

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