- Crypto trader Capo said his altcoin picks could pump as BTC surges to $21,000.
- He also explained how Bitcoin could show volatility in the coming weeks and the best support areas.
The cryptocurrency market has shown some movement recently with a few under-the-radar altcoins making solid gains. Last week, Rich Quack (QUACK), Phala Network (PHA) and SingularityNET (AGIX) were the great performances earning almost 200 percent on average.
Pseudonymous crypto trader Capo offered his prediction for a few altcoins sharing his bullish target going forward. Capo is one of the few traders who accurately predicted this year’s crypto market crash. Although this turns out to be a significant bear market, Capo turned bullish for a few digital assets.
First, Capo is currently bullish on Ethereum (ETH) and XRP competitor Stellar Lumens (XLM). Ethereum’s native ETH crypto has been under some selling pressure recently and is trading near $1,300 at price time. Similarly, Stellar’s XLM crypto is currently trading at $0.112 with a market capitalization of $2.8 billion.
Additionally, Capo also shared some of the lesser-known altcoins he holds and are about to take off. The first is LIT, the native cryptocurrency of the Litentry decentralized identity verification blockchain. The other is Reserve Rights Token (RSR), a digital asset that provides stability to the asset-backed stablecoin known as Reserve Token (RSV). At press time, the RSR crypto is already trading up 7% at a price of $0.006745.
The third altcoin Capo is bullish on is the STEPN (GMT) altcoin. GMT is currently trading at a price of $0.58.
Bitcoin will pump to $21,000
Capo’s bullish stance above altcoins comes with the prediction that the price of BTC could rise to $21,000 in the near term. However, he adds that it could be a momentary bounce before BTC finds a local low at $14,000. Thus, Capo advised his followers to book profits whenever possible. He declared:
Some shitcoins will experience scam pumps these days, while $BTC goes to 21k. This might give you the illusion that the bull market is back. My advice: don’t be greedy. Take profits if this happens. Protect your capital.
Capo notes that the current support levels for Bitcoin are $18,000-$19,000. The price of BTC has bounced several times from this area. However, the rebounds are getting weak, Capo says. “It shows that the buying power from this level is weaker and the bears are pushing lower every time. It should eventually break,” he added.
If BTC gives a daily close below $18,000, the next support is at $14,000. Capo says that BTC has very strong support at $14,000. The main trend is bearish and the main target for a potential local bottom is 14k. Capo said he would boo profits as BTC approaches major resistance at $21,000.