Capo Predicts Six Altcoins To Outperform Bitcoin In Next Months
A widely-followed cryptocurrency analyst and trader, known as Capo, outlines six mid-to-large cap altcoins that he believes will outperform Bitcoin (BTC) in the coming months.
Cardano (ADA)
The analyst shares with his 173,000 followers on Twitter that he foresees major upside ahead for the smart contract platform Cardano (ADA).
At the time of writing ADA trades at $2.24, with not much change compared to a week ago, after bulls successfully defended a low of $2.13 on Wednesday.
A lot of Capo’s analysis is based on Elliot Wave theory, and he says that ADA and some other crypto assets appear to be at the start of a fresh altcoin season.
Elliot Wave theory is a form of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology. The theory identifies impulse waves that set up a pattern and corrective waves that oppose the larger trend. Each set of waves is nested within a larger set of waves that adhere to the same impulse or corrective pattern, which is described as a fractal approach to investing.
Altcoin Perpetual Futures (ALTPERP)
Capo predicts a fresh bull wave incoming for Altcoin Perpetual Futures Index, which according to him is is an indication of what follows.
“ALTPERP bullish trend is intact too. It’s also forming a potential cup and handle, whose minimum extension is very high. Maybe the w3 is starting here because many altcoins are starting their w3.
Source: Capo
Syntropy (NOIA)
The trader has his eyes also on the native token of Syntropy (NOIA). According to him, NOIA is likely to outperform BTC in the weeks and months ahead.
Syntropy is designed to solve issues prevalent in the current Internet framework, including security, privacy, governance, performance, reliability, and ineffective resource utilization.
At the time of writing, NOIA trades at $0.39, with 10% gains on a weekly chart.
COTI (COTI)
The third altcoin on the list is COTI, the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions as well as digitize any currency to save time as well as money.
At the time of writing, COTI trades at $0.54, with 6% loss on a weekly chart.
Fetch.ai (FET)
The fourth crypto asset on the trader’s list is decentralized machine-learning network Fetch.ai. It’s native token FET is trading at $0.78, down 34% from its all-time high of $1.17 in early September.
The Sandbox (SAND)
The Sandbox is the fifth coin that Capo lists as ready to outperform Bitcoin. The platform’s native token SAND is designed to allow users to monetize their gaming experience.
At the time of writing SAND trades for $0.78, having flutuated between $0.76 and $0.88 since last Friday.
Verasity (VRA)
Blockchain-based video entertainment protocol Verasity, is the sixth and last altcoin on Capo’s list. Its native token VRA trades for $0.54 at the time of writing, with 23% and 64% gains on daily and weekly chart respectively.
Altcoin Season
The analyst digs a little deeper on what is happening with altcoins in a lengthy thread, and explains why he’s seeing a new altcoin season incoming. Along with other traders and analyst, Capo also predicts 6-figures for Bitcoin.
“During bull markets money tends to flow from Bitcoin to altcoins, because people [are] greedy and always want more profits.
Now Bitcoin is confirming the bullish scenario, and $100k and higher targets are likely to happen in the next few months. This would create the perfect scenario for people to get comfortable and start speculating on altcoins.”
Based on Bitcoin dominance, an indicator that shows bitcoin’s market cap compared to other crypto assets, Capo predicts the end of the altcoin season, and possibly the overall crypto bull cycle.
“Huge hidden bearish divergence showing up, and the green support is getting weaker.
In my opinion, it will take the 2018 lows (36.50%) and the altseason could end there.”
