Amidst the extensive recovery of the cryptocurrency market which has propelled crypto assets to record consecutive days of highs, traders are looking at how altcoins can profit from the move started by Bitcoin (BTC).
A) Yes, As Bitcoin breaks through daily resistances and continues its bullish move, surpassing the $ 45,000 mark, traders note that as on other occasions, BTC’s sharp rise will also drag down other cryptocurrencies, including small-cap ones.
Thus, for the trader and analyst Jason Pizzino, in addition to Bitcoin, is pending 4 cryptocurrencies which he points to as great purchase options this month.
First on the list of operators is the privacy cryptocurrency project Pirate Chain (ARRR). Pizzino points out that The ARRR token will perform well on its pair against Bitcoin (ARRR / BTC) and against the dollar (ARRR / USD), making higher highs and lows on both pairs.
“This is my favorite … ARRR was huge … That looks good … A breakout above $ 4 would be confirmation or safe entry … A nice slow steady pace would be fantastic … ARRR / BTC looks good too … We want to see this in a steady uptrend: higher highs, higher lows … ARRR / BTC, good volume, hitting some volume at lows … I like the project ” , said.
The second asset on Pizzino’s radar is FTT, the exchange’s native token FTX. The FTT token is emerging from a downtrend, making highs on its USD and BTC pairs, Pizzino said.
Nevertheless, Before initiating a major bullish move, the analyst claims that the FTT will have to make another high to confirm the uptrend and breakout.
The trader also highlights that he is aware of Badger DAO (BADGER), a project that aims to bring Bitcoin to other blockchain networks. Say what BADGER is taking a break from its downtrend as it begins to lighten and move higher on the chart.
“I have good expectations for the project, but it is well below its all-time high. When this happens, it is better to wait to take a position until the asset confirms that it is breaking the downtrend and rising in price again,” he pointed.
Alchemy Pay up 7.280%
The fourth project that has caught the attention of the cryptocurrency community is Alchemy Pay (ACH), which has risen more than 7.280% in the last two weeks following its listing on Coinbase.
Now the team that coordinates the development of ACH has highlighted that it is going to launch a virtual card that will be accepted in millions of merchants in the Visa and Mastercard networks.
The measure is designed to stimulate the adoption of various cryptocurrencies, allowing people to spend their digital assets in the real world, such as in Brazil with Uzzo, Alter, Z.Ro, Zefi cards, among others.
The card will be compatible with more than 40 types of cryptocurrencies and can be used on popular e-commerce platforms such as Amazon and eBay. Furthermore, the virtual card can also be linked to digital wallets such as Google Pay and PayPal. Alchemy expects to launch the card services by the end of the year or early 2022.
Analysts point out that interest in ACH solutions should push the crypto asset above $ 0.3 in the short term as the cryptocurrency, less than 10 days ago, was trading at $ 0.001355.
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