3 crypto analysts, known for their accurate predictions, are updating their predictions for 2 important altcoins. Twitter analysts Kaleo and Smart Contracter say the Dogecoin rally is not over yet.
Famous crypto whale says Dogecoin rally isn’t over yet
Dogecoin is leading the altcoin market with 125% gains in the last seven days. He first started acting after Elon Musk’s successful acquisition of Twitter. It then rallied over 150% at one point to as high as $0.1572.
Despite its massive gains in a short period of time, a cryptocurrency whale known as Kaleo says more is likely to come. The closely-followed analyst says with a little patience, investors could see another big rally for DOGE.
“DOGE still looks pretty bullish to me”
According to the popular analyst, DOGE is preparing the altcoin market for another “alt season”. Kaleo shares a chart for Dogecoin in the Bitcoin pair (DOGE/BTC), which he says shows great strength. According to the analyst, Dogecoin is “still very bullish” on this chart.
Altcoin seer Smart Contracter is also watching Dogecoin closely
You can find past accurate forecasts of Smart Contracter from this article. Just like Kaleo, he watches the DOGE/BTC chart closely. The analyst thinks this looks like a “crazy rise”:
I’m considering putting the rest of my BTC in DOGE for at least the next few months. This DOGE/BTC chart is the craziest bullish move I’ve seen in a long time. Nearly a year of reverse head and shoulder fracture that almost no one talks about.
Senior Bloomerg analyst sees additional rallies for this altcoin
Mike McGlone, a senior analyst at Bloomberg, predicts additional rallies for Ethereum (ETH) due to various catalysts. You can find the analyst’s successful forecasts in this article. In his current analysis, McGlone says that Ethereum can bolster its value by the fact that stablecoins rely on its network to work:
Ethereum is basically doing to the world what Netflix did to Blockbuster. It’s revolutionizing fintech and things like that. The great thing about Ethereum is that it makes possible the most traded cryptos in the world, which are tokenized versions of the dollar. Basically, the dollar is the most traded crypto. Together it makes more transactions than Ethereum and Bitcoin. This is because of Ethereum-based cryptocurrencies.
The analyst says he expects ETH to start rising against Bitcoin fueled by dwindling supply and increasing demand. According to McGlone, an appropriate supply-demand ratio means that the price “must rise” for ETH. In a recent interview, he noted the following about the impact of scarcity on price:
This trend of Ethereum still outperforming Bitcoin remains intact. Therefore, it hovers around support around $1,000 and resistance around $2,000. But what he did this year was somewhat revolutionary. Switched to PoS amid the energy crisis…Also supply is clearly falling. So I look at it as the price should increase over time unless something changes in these trends… It should bounce back and continue to outperform Bitcoin.
Cryptotokoin.comAs you follow, Ethereum is currently trading at $1,571.15.
