Even if Bitcoin goes back to trading above US$ 60 thousand, analyst points out that five cryptocurrencies linked to smart contracts could rise more than 500% and surpass the BTC’s valuation.
Amid the recovery of the cryptocurrency market, which was led by the return of the price of Bitcoin (BTC) above US$ 40 thousand, specialists are looking to point out which cryptoactives can rise and even surpass the appreciation of the biggest cryptocurrency on the market.
One of these specialists is the analyst known as Guy, who heads the Coin Bureau and, for him, even if Bitcoin exceeds the value of US$ 60 thousand again, by the end of the year, it should not surpass, in valuation, the high of five cryptocurrencies linked to a new era of smart contracts.
According to the analyst, the first cryptocurrency on his list is Ethereum (ETH), which has already risen higher than Bitcoin this year and will change its consensus algorithm from proof-of-work (PoW) to proof-of-stake (PoS) and with that inaugurate a new phase in the biggest altcoin in the market.
In addition, the analyst lists several catalysts that could launch Ethereum at higher levels, including the possibility of approving an Ethereum-based exchange traded fund (ETF) (in Brazil the CVM has already approved 2 funds of this type).
He also points out that institutional demand for ETH has been growing and that the recent update of EIP-1559 should turn ETH into a deflationary asset.
Cardano, Catalyst and Solana
Another cryptocurrency on the trader’s list is Cardano (ADA) which has been identified as the main competitor of Ethereum and which was created by one of the co-founders of ETH.
“Although Cardano’s upside potential is also limited due to its large market capitalization, it has much more room to grow than Ethereum, and for many reasons. For starters, the ADA maintained its bullish momentum against all odds. It has remained strong despite the recent slowdown and is still on a very visible uptrend. That’s because Cardano’s best days are yet to come.”, he highlighted.
Leaving the list of the top 10 of Coinmarketcap, the analyst indicates the Catalyst Project, which is one of the projects that received financing from the Cardano ecosystem and which, according to him, can present an appreciation of up to 100 times.
“This profit potential can bring in a record amount of investors and retail users, and I could see that taking the ADA into the $4 to $5 range.”
Solana (SOL) is the third cryptocurrency on the analyst’s list and Guy justifies his choice by pointing out that Solana has the capacity to process as many transactions as Visa or Mastercard.
In addition, he points out that like Cardano, SOL held up considerably during the slowdown in the cryptocurrency markets.
Matic and Luna
Guy’s fourth choice for is the Polygon sizing solution (MATIC), a cryptocurrency that is also present on most different analysts’ investment indication lists.
Guy points out that based on the expectation of a wave of new users coming to MATIC, the analyst says that a 264% rise could easily be reached by altcoin.
“Polygon’s mass adoption could easily push its price to new highs by the end of 2021. $5 is a realistic estimate in my opinion.”
The last altcoin on Guy’s list and which is also present in 80% of referral lists from different traders is the cryptocurrency Terra (LUNA).
The analyst says that although Terra has not yet been “battle-tested”, a 506% price increase by the end of the year is still possible.
“Now call me crazy, but I could easily see LUNA hit $100 by the end of the year if its adoption and innovation continues.”