A popular crypto trader and analyst is suggesting that Ethereum’s price could jump 430% by 2022.
The trader, known as Capo, says that he is betting on Ethereum (ETH) over Bitcoin (BTC) if the crypto market enters a new bullish period.
He also bets that ETH will flip BTC’s market cap and become the top-ranked crypto asset in valuation.
“If we get the 5th wave in the entire market, Ethereum will probably outperform Bitcoin, and the flippening will be likely.
I’m long on ETH/BTC.”
Capo says he expects the market to enter another bullish period before this cycle ends. He believes that ETH will peak above $10,000 by next year, marking a 430% surge from its current price of $1,885.
“In my opinion, cycle top will be above [$10,000].
There’s no w3-w5 divergence yet, and the fact that the extension after such accumulation period (2018-2020) has been too short. It makes me think that we will see another leg up.”
The trader adds that he is waiting for signs indicating that interoperable blockchain Polkadot (DOT) is prepared to rally against BTC. Capo says he will look into buying DOT if it can recover key support against Bitcoin at about $16.90.
“DOT/BTC. It’s reaching support as expected. Not entering yet because it’s better to wait for a bounce + HH (higher high), or even the bullish confirmation.”