Popular Analyst Interprets Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) • Coinexc

Cryptocurrency analyst Scott Melker details his current view on Bitcoin, Ethereum, Litecoin and XRP.

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Melker says it’s no surprise that BTC dropped to around $ 62,000 after Coinbase was listed on the NASDAQ on Wednesday:

“This is really typical. Now, as you know, when you trade them, you don’t exactly put them on the line, you distribute the orders up, down, line, so you can catch it. You may not fill a full position, but you also don’t want to get ahead of whales. ”

Melker says if for some reason Bitcoin drops below the $ 62,000 level, it could be traded around $ 60,000 as a retest. Although Melker expects extremely large returns in the altcoin market, BTC remains bullish:

“Bitcoin is the most important asset ever created. If I had to choose something for Hodl, that would be BTC. However, if you are a TRADER (not an investor), your side will be heavily on altcoins. They’re much more likely to make you insanely rich. “

As a prime example, Melker says Ethereum is quietly debuting against BTC and showing no signs of stopping. The analyst says he hopes to trade in the $ 2,200 area, but Ethereum has not looked back so far.

The trader predicts that Litecoin (LTC) will reach $ 347 in the short term. According to CoinGecko, LTC is trading at $ 276 as of the time of publication.

Melker thinks XRP will also rise, and points out that the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple now seems to increase the price of the asset:

“There is a lot of demand and FOMO (fear of kidnapping) but no big players selling to him. So, I believe this is the reason we see this power going on and FOMO can continue if it continues …

To me right now, any drop in XRP is likely to be an opportunity to buy. “

According to CoinGecko, XRP has seen an increase of about 92% in the past 7 days. XRP is trading at $ 1.74 as of the time of publication.

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