Altcoins are just a means to buy more Bitcoin (BTC), one trader has said. While the largest cryptocurrency in the market continues to rise, other altcoins can serve as a form of accumulation.
During his daily analysis, Michäel van de Poppe presented three altcoins whose appreciation can generate gains of up to 200% in BTC. They are Fetch.ai (FET), Celer Network (CELR) and Swipe (SXP). In the analyst’s view, cryptocurrencies have a “giant potential” to realize these profits.
At first, buying the CELR doesn’t sound like a great opportunity, as the token is trending down. After hitting its high of the year in March, the price has clearly gone downhill.
However, van de Poppe sees a significant opportunity in the CELR/BTC pair. Right now, the token is in a test zone of its first resistance (0.00000095 BTC). The region is slightly above the entry point indicated by van de Poppe (0.00000073 BTC).
Still, CELR has as final support the 0.00000125 BTC zone. If it manages to break the first resistance and continue with the appreciation, the CELR could yield gains of up to 30% in BTC. In short, the transaction can result in an optimal accumulation for long-term holders.
Second on van de Poppe’s list is SXP, the token that powers the Swipe payment network. According to the Dutchman, the first resistance of the SXP is in the zone of 0.000064 BTC, a region that, at the time of writing this text, the token is trying to overcome.
“If the Swipe manages to break the resistance of 0.000064 BTC ($2.95), the price will likely keep looking for a new high target. With that, the chances of new gains substantially increase”, explained van de Poppe.
With the consolidated price above 0.000064 BTC, the analyst forecasts that the SXP/BTC pair will reach a new peak of 0.00013 BTC (US$5.98). In short, the SXP has a potential for gains in BTC that can reach above 103%.
Finally, the FET token is the one that, according to van de Poppe, has the greatest potential for valorization and accumulation in BTC. The token has already registered a 45.23% appreciation from its low (0.000005 BTC), and is currently worth 0.0000091 BTC.
Even with the strong appreciation, the token built important support in the region of 0.00000548 BTC ($0.25). Despite this, the upside potential is considered greater than the risk of the FET returning to previous levels.
For the analyst, the FET is ready to reach an appreciation up to 0.000027 BTC, or $1.24. Taking into account current prices, purchasing the token can result in a gain of up to 196% in BTC.
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