2023-10-14 18:05:05

Trader Who Called 2022 Crypto Collapse Predicts 248% Rally for Solana-Based Altcoin Heres His Target - The Daily Hodl

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The Daily Hodl
By Daily Hodl Staff

A closely followed trader says that hes investing in one Solana-based (SOL) move-to-earn project with the expectation that the token will spark a series of massive rallies.

The pseudonymous crypto trader known as Capo tells his 551,000 Twitter followers that he thinks the crypto markets will pick a direction early next month once the Federal Reserve confirms another interest rate hike.

According to Capo, Bitcoin (BTC) will lead a crypto market correction after the Fed announces either a 75 or 100 basis points rise in rates.

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Source: Capo/Twitter

Capo says that BTC is currently above the $19,000 mark because yesterday’s dip lower was more of a deviation than a direct price impulse downward. He says a rally to $21,000 or more is still likely before a dramatic correction to the $14,000 level.

While $21,000 is the traders base case, hes still staying prepared for a potential break through of that resistance level to other targets in the mid $20,000s.

Source: Capo/Twitter

Looking at the altcoin market, Capo says he just grabbed a bag of STEPN (GMT), the popular move-to-earn project built on the Solana blockchain.

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