Quick News : TimeCoin’s Special Token Sale
Professional crypto trader Bitcoin (BTC) veteran and the host of a famous “The Wolf Of All Streets Podcast” Scott Melker is stating his current outlook on Bitcoin, Ethereum, Litecoin, and XRP.
The price of the world’s largest cryptocurrency has more than doubled this year, owing to increasing mainstream acceptance as an investment and a form of payment, as well as investors seeking high-yielding assets in an environment of low interest rates.
On Tuesday, Bitcoin Price reached a new high of $62,575 dollars, expanding its 2021 rally to new heights.
Although,Melker says BTC’s dip to around $62,000 after Coinbase hit the stock market on Wednesday is no surprise.If Bitcoin falls below the $62,000 mark, Melker says he’ll be looking for a trade around the $60,000 level as a retest. Melker is still bullish on Bitcoin, but he expects outsized gains in the altcoin sector.
“That’s a really, really classic textbook trade, something like that. Now, as you know, when you’re trading these, you don’t put it exactly on the line, you spread orders above, below, right at the line, so that you catch it. You might not fill a full position, but you also don’t want to get front-run by whales.”
He also said that Bitcoin is the most valuable asset that has ever been made. BTC would always be his first choice if he had to keep just one asset. However, if you tend to be a TRADER (not an investor), altcoins are likely to have the most upside at this stage. According to him altcoins have a much higher chance of making you insanely wealthy.
As for ETH Scott Melker recently said that Ethereum is more positive and bullish than Bitcoin. It’s not easy to use ETH, but “the amount of building that’s going on on Ethereum, the amount that was staked in an Ethereum 2.0” shows that Ethereum is doing extremely well.
He was aiming to execute a trade in the $2,200 area, but so far the second-largest cryptocurrency hasn’t looked back.
The trader is indicating that Litecoin (LTC) will hit $347 in the short term. LTC is trading at $271.18 at time of writing, according to CoinGecko.
Melker is also bullish for XRP and tells that the price seems to be rising after it’s second legal victory.
It’s amazing what happens when the company is not selling and those coins are removed from the supply. You have tons of demand, FOMO (fear of missing out), and no huge players selling into it. So I believe that’s why we’re seeing this continued strength and it could continue to keep going if the FOMO remains
To me right now, any dip on XRP is probably for buying.”
XRP Price has been on a tear over the last week, gaining a massive 150% in value. On Tuesday, the cryptocurrency eventually broke the $1 mark, and it has exploded since then, now trading at more than $1.71.