A closely followed crypto analyst believes three groups of digital assets will have explosive rallies this cycle.
In a new video update, the host of InvestAnswers tells his 530,000 YouTube subscribers that Bitcoin (BTC) and two other types of crypto assets are set up for massive rallies.
“My thought on what could happen this cycle is Bitcoin first, memes second, winning alts third.”
He warns that other crypto projects are unlikely to recover and may simply die off.
“And the rest will not even pop. The rest will stay dead, as they have done so far…
If you are more than 60% away from an all-time high more than halfway through the bull market you’re never going to make it to an all-time high again. So if you’re hanging on to those dead coins and you want to get out what you paid into them at, you’re never going to get out. Okay? You’re stuck. You’re trapped. It’s time to pull that trigger and get out of the dead stuff…
For those who are waiting for their dead coins from a previous era to pop, it’s not going to happen if they’re over 60% away from their previous all-time highs. And that’s just a scientific reality. There might be an outlier somewhere along the way that could do it, but the majority, we’re talking 90%-95%, will never come back to life again.”
At time of writing, Bitcoin is trading for $74,448.
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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 losses 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.
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