A widely known cryptocurrency analyst is predicting that one of the Ethereum (ETH)-based altcoins will suddenly surge in price.
Anonymous cryptocurrency trader Credible has shocked investors in a new thread on social media platform X by telling his 409,300 followers that the native asset of stablecoin-focused decentralized exchange Curve DAO (CRV) could soon double in value.
“CRV will quickly revalue to twice its value, and most investors will be left out of everything else.”
At the time of his prediction, CRV was trading at around $0.25. At the time of writing, CRV is trading at $0.30, up 19.6% over the last 24 hours.
Credible said recent price action confirms his outlook.
“CRV is down to $0.30. That’s good to see. Next is $0.40 and above.”
The analyst also believes that CRV has the potential to outperform Solana (SOL) and reclaim its previous all-time high (ATH).
“Do you think SOL will go to $1,000? Even if it does, congratulations. That’s 7x.
CRV will go 30x from its previous ATH, and beyond that it will go 40x, 50x, etc. Do you want a potential 7x or a potential 50x? The only difference between the two is patience.”
Analysts are looking at Bitcoin and believe (BTC) is headed toward the low $60,000s based on the trend of open interest (OI). OI tracks the total number of open derivatives contracts for a particular asset.
“Many people are watching the green long zone between $54,500-$56,500, as there is local demand there, and there are equal and untapped lows. However, the heatmap shows a stacked bid leading the ‘ideal’ long zone just above that area. The OI has also completely reset with this small drop. I wouldn’t be surprised if it leads the $54,500-$56,500 zone and then reverses before that…
So far it looks good and I think we’ll see a high of $62,800 next.”
At the time of writing, Bitcoin is trading at $59,792, down slightly over the last 24 hours.
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