One of the most respected crypto analysts says that an Ethereum-based altcoin (ETH) is preparing for a huge rally, while also updating his view on Bitcoin (BTC).
Justin Bennett, a crypto trader, told his 114.600 followers via the social media platform X in a recent strategy session that Curve Finance, formerly known as decentralized exchange Curve Finance, (CRV), is poised to soar by more than 500%.
At the time of this writing, CRV was trading at $1.11, which is a decrease of 2.7% over the past 24 hours. Bennett’s $6.80 target would be a 5150% increase over its current price.
Bennett advises investors not to be surprised when BTC reaches the milestone of six figures for the very first time.
“Six-figure Bitcoin!! Great move from new support. Before consolidation we’ll probably get $105,000 to $106,000, but it won’t surprise us if the move rips through .”
Bennett believes that altcoins, which experienced a frenzied November, could drop in comparison to the crypto-king.
Nice reaction so far from Bitcoin dominance. BTC’s dominance of .” could cause alts to cool down in December after a frenzied November.
Bennett believes altcoins will struggle to compete with BTC, if the current 54% dominance of BTC continues.
Bitcoin currently trades for $10,931, a gain of 6.3% in the past 24 hours.
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The post Crypto Analyst Justin Bennett: This Ethereum-based Altcoin is Ready to Explode By Over 500% may be updated as new information becomes available.
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