A prominent crypto strategist and technical analyst says a number of crypto assets appear ready to outperform Bitcoin.
The pseudonymous analyst known as Cantering Clark says in a YouTube video that he’s bullish on Shroom.Finance (SHROOM), a DeFi ecosystem for NFT minting and trading.
SHROOM, the 483rd-ranked asset by market cap, is trading around $0.70 at time of writing, according to CoinGecko. It’s up nearly 480% in the past 30 days and 20.8% in the past 24 hours.
When Cantering Clark hosted his livestream, SHROOM was trading closer to $0.60. Still, the analyst thinks it has more room to grow.
“This is a completely different approach to how I normally have traded my entire trading career. I consider this a punt. I have a substantial amount of money in it. But I’m taking an outsized bet. I’m not going to monitor it on the low time frames – [that] doesn’t make sense. I am really betting heavy on it being over a dollar. At least.”
The analyst also believes Ethereum (ETH), Polkadot (DOT), Aave (AAVE), Uniswap (UNI), Avalanche (AVAX), and Solana (SOL) are all going to outperform Bitcoin in percentage terms, though he is careful to point out there is more risk in investing in those assets compared to BTC.
l
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc
Credit: Source link
