A new altcoin season is in the starting blocks. Top crypto trader Scott Melker reveals the top coins he currently thinks are promising. We present the four cryptocurrencies-including price forecast.
When does the Altcoin season start?
Numerous altcoins currently record profits in the two-or even three-digit percentage range. Analysts and traders are already anticipating a new “altcoin season” -a phase in the bull run in which alternative cryptocurrencies other than Bitcoin see huge profits. Full-time trader Michaël van de Poppe, for example, commented:
“Altcoins move strongly while Bitcoin corrects.
– Michaël van de Poppe (@CryptoMichNL) August 19, 2021
Trader @ MuroCrypto also shares a chart (GRT) on which a cryptocurrency has retreated well below its all-time high but appears to be on the verge of a breakout. He writes to his more than 164,000 Twitter followers: “Let’s make money again”in the fourth quarter. Muro:
“Most altcoins look like this.
In Q4 we make money again.“
Most altcoins look like this
Q4 We make money again pic.twitter.com/JgwlbsvNJa
– muro-won’t DM you (@MuroCrypto) August 19, 2021
Four coins for the upcoming bull run
With altcoins, there could now be an exciting development-and corresponding profits. But which coins are promising? The popular crypto trader Scott Melker has dedicated himself to this in a new video analysis.
He names four cryptocurrencies that he believes could be worthwhile: Cosmos (ATOM), Avalanche (AVAX), Egold (EGLD) and Sushiswap (SUSHI). What is this? Why does Milker consider them worth mentioning? And what are the price forecasts for the coins?
First coin on Melker’s list is the scalable blockchain network Cosmos (ATOM). ATOM is interesting if the coin can close above 0.000357 BTC. That’s currently $ 15.85. However, the ATOM price has already overtaken Melker’s analysis, because at the moment ATOM is already trading at 18.34 dollars – an increase of 21% within the last 24 hours!
Earlier, Milker had cited a price of $ 17 as an area that ATOM must crack – if successful, it would be “a very clear signal for the start of a new uptrend.” Since ATOM has left the area behind, the Coin Milker is now in a bull phase, according to the report.
But what is Cosmos? Cosmos aims to solve typical problems of the blockchain industry and provide an alternative to “slow, expensive, non-scalable and polluting” proof-of-work protocols. To achieve this goal, the Cosmos network uses numerous parallel blockchains: so-called “zones”. Some zones act as hubs for other zones. This allows different zones to work together and gives Cosmos the ability to interact with other coins and apps. Users can simply create a new zone, connect a blockchain to the Cosmos hub and then exchange coins between the zones.
- CoinCodex.com is bullish on Cosmos (ATOM): Accordingly, 26 technical analysis indicators signal bullish signals, compared to only four bearish signals.
- WalletInvestor.com according to Cosmos is an “outstanding” 1-year investment. According to the forecast, Cosmos will initially rise to $ 27.85 within the next 12 months. The 5-year forecast sees Cosmos then rise to $ 74.70.
- DigitalCoinPrice.com Cosmos expects continuous price increases: by the end of 2021, a price of $ 26.68 is predicted, and by the end of 2025, Cosmos is forecast to be $ 55.
Milker also finds the Ethereum competitor Avalanche (AVAX) interesting. In his analysis, Milker expects a breakout above $ 21 – AVAX has already succeeded. AVAX rose as much as 40% overnight, currently trading at $ 30.35. Milker comments: If AVAX maintains its breakout above the level, further gains are possible. But what is Avalanche (AVAX)?
Ethereum competitor Avalanche is said to scale better than Ethereum 2.0. Transactions can be completed by AVAX in less than a second, and the blockchain project also offers low fees. The goal of the developers: asset trading should be simpler and merged in the AVAX network. The AVAX token is the native payment method of the Avalanche ecosystem. It is used, among other things, for transaction fees. If users stake their AVAX coins, they can also earn passive income.
- CoinCodex.com is generally bullish on Avalanche price prediction: 23 technical analysis indicators signal bullish signals, against which there are 5 bearish signals.
- WalletInvestor.com expects Avalanche to increase to $ 38.58 within the next 12 months. For the next 5 years, however, a price movement up to 115.15 dollars is predicted. Overall, AVAX is a “very good” long-term investment.
- DigitalCoinPrice.com predicts a similar development at AVAX: by the end of 2021, the forecast model sees AVAX rising to $ 45.72. In the course of 2025, Avalanche will then rise to $ 92,31, and by the end of 2028, AVAX could Digitalcoinprice.com at $ 138.34.
Also in the top 4 list of milkers is the blockchain network Elrond (EGLD). True, the coin will consolidate for a while, the trader believes. However, if EGLD can close above 0.003 BTC, that may be confirmation of an outbreak. Say: time to buy. 0.003 BTC is equivalent to 133.18 dollars at current prices – and EGLD is already trading above it at 137.71 dollars at the moment. Milker is now looking at $ 200 as the next target.
What is Elrond?
Elrond sees itself as a”technology ecosystem for the new Internet”. According to the developers, so-called “adaptive state sharding” improves throughput by 1000 times compared to previous blockchain iterations. This should be achieved by processing transactions not in succession, but in parallel. The high speed is also mentioned as a unique selling point of Elrond.
- CoinCodex.com is generally neutral about the Elrond price prediction: 16 technical analysis indicators signal bullish signals, but 11 that issue bearish signals are opposite.
- WalletInvestor.com is bullish on Elrond, calling the altcoin an “excellent” 1-year investment. According to the price forecast, EGLD will rise to $ 269.60 within the next 12 months. The 5-year forecast then expects an increase at Elrond to 794,49 dollars!
Last altcoin on Melker’s favorites list is the decentralized exchange SushiSwap (SUSHI). According to the top analyst, a breakout could be confirmed once SUSHI rises above 0,000279 BTC in the Bitcoin pair. At current prices, this corresponds to the equivalent of $ 12.36. By comparison, SUSHI is currently trading at $ 12.78, just above the critical limit. According to Milker, a doubling of value is possible from here.
What is SushiSwap?
SushiSwap (SUSHI) is a so – called automated market maker (AMM) – like the popular decentralized crypto exchange Uniswap. Users can trade cryptocurrencies directly and decentrally with each other on SushiSwap – without a middleman being involved. SushiSwap was launched in September 2020 as a fork of Uniswap. The DEX wants to diversify the AMM market and offer users more features than Uniswap (for example, higher rewards for network participants via the native SUSHI token).
- CoinCodex.com is generally bullish on SUSHI: 22 technical analysis indicators signal bullish signals, compared to only 5 bearish signals.
- Digitalcoinprice.com do not expect big jumps in the decentralized exchange in the near future. By the end of the year, SUSHI could be at 19,17 dollars. By the end of 2026, the increase succeeds to 49,90 dollars, and by the end of 2028, according to the forecast, SUSHI will rise to a maximum of 57,10 dollars.
- WalletInvestor.com considers SUSHI a “sensational” 1-year investment: according to the forecast, the price will rise to $ 24,79 within the next 12 months. The 5-year forecast anticipates an increase to $ 73.19 by 2026.
Last updated on August 19, 2021
Top Brokers for buying and trading cryptocurrencies
- Buy Real Bitcoin or Bitcoin CFDs
- Wallet and Exchange in one
- 14 + Cryptos
- Excellent Trading Tools
- Large knowledge and training database
- Very good spreads
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.