dailyhodl.com
A closely followed crypto analyst says that one Ethereum (ETH)-based altcoin is gearing up for a massive rally while updating his outlook on Bitcoin ($BTC).
In a new strategy session, crypto trader Justin Bennett tells his 114,600 followers on the social media platform X that decentralized exchange (DEX) Curve Finance ($CRV) looks primed to skyrocket by over 500%.
“Unsure if we’ll even get the pullback first, but $CRV looks ready for $6.80 while above $0.87.”
$CRV is trading for $1.11 at time of writing, a 2.7% decrease during the last 24 hours. A spike to Bennett’s target price of $6.80 would represent a 515% increase from its current level.
Moving on to the top crypto asset by market cap, Bennett says that investors shouldn’t be surprised if $BTC smashes through the $105,000-$106,000 price tag after it reached the six-figure milestone for the first time ever.
“Six-figure Bitcoin!! Nice move off of new support. We probably see $105,000-$106,000 before some consolidation, but don’t be surprised if it rips right through.”
According to Bennett, altcoins – which had an explosive month of November – could slow down in December versus the crypto king.
“Nice reaction from Bitcoin dominance so far. Alts that had explosive Novembers could cool off in December as $BTC takes over.”
Bennett says that altcoins could struggle against $BTC if its current dominance level of 54% holds up.
Bitcoin is trading for $100,931 at time of writing, a 6.3% gain during the last 24 hours.