A leading crypto analyst says traders are watching a loaded altcoin market barrel ready to explode.
Cryptocurrency trader Justin Bennett tell The 109,600 Twitter followers market the altcoin, and crypto markets excluding Bitcoin (BTC), are about to explode.
“The altcoin market cap chart rolled out to something big in October.”
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Bennett represents the leading digital currency by market capitalization, Ethereum (ETH), as well as the VeChain (VET) blockchain that was previously an enterprise solution alongside graphs.
ETH is trading at $1,354 at the time of writing, up 2% on the day.
VeChain, which is also up 2% in the last 24 hours at $0.024, is a blockchain platform for enterprise smart contracts. Provides a list of services to improve product lifecycle management and data certification. Smart contracts on VeChain convey value through VET transactions. The altcoin was hot during the height of the bear market last year, but has since fallen off a cliff, along with most of the altcoin market.
but according to BennettThe VET may be ready to start returning.
“VET is starting to look attractive at this bottom coupled with a drop in the wedge since August.
Possible run game for October.
A few hours after sharing the painting above, Bennett Share Another, almost confirms his hypothesis.
“VET really comes close…”
VeChain is down 91% from its all-time high in mid-April last year.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Main image: Shutterstock / jiang jie feng / Andy Chipus