Crypto Expert Unveils Major Opportunities: Chainlink, Bitcoin, and Altcoins in Focus
Crypto analyst Kevin Svenson believes that Chainlink (LINK), a decentralized oracle service, is poised for a significant surge in the altcoin markets.
Svenson, who has a substantial following on Twitter, points to LINK‘s moving average convergence divergence (MACD) indicator as an indication of an unexpected upward spike. Traders closely monitor the MACD as it can sometimes signal a trend reversal.
#Chainlink🔗 monthly MACD indicator is about to have the first bullish cross up since the end of 2020
I’m long AF 📈$LINK a surprise pump is coming
— Kevin Svenson (@KevinSvenson_) May 4, 2023
According to Svenson, the monthly MACD indicator for Chainlink is on the verge of a bullish cross-up, the first since the end of 2020. Expressing his optimism, Svenson states, “I am highly confident in this positive outcome. I anticipate a surprising pump for LINK.”
Svenson also touches upon the meme cryptocurrency Pepe (PEPE), suggesting that a shift in capital flow from Pepe to larger crypto assets like Bitcoin (BTC) and Ethereum (ETH) could have a significant impact on the entire market.
If $PEPE profits starting flowing into #BTC and #ETH the entire market is going to Rocket 🚀
— Kevin Svenson (@KevinSvenson_) May 5, 2023
Currently, Pepe has experienced a staggering growth of over 5,000% in less than a month, and some analysts expect the speculative fervor to continue.
Highlighting the availability of leverage, Svenson argues, “If profits from Pepe start flowing into BTC and ETH, the entire market will soar… The immense leverage at play means that a half-billion-dollar influx could translate into billions in trading volume.”
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Additionally, Svenson predicts that Bitcoin’s next move will surprise skeptics and bears alike. Having previously called for a rally up to $48,000, he believes that such a surge would trigger another bullish season for altcoins.
“With Bitcoin forming a higher low along our parabolic curve, there is potential for a substantial upward movement towards $48,000… This implies a 65% gain from the current level, presenting a tremendous opportunity if it materializes.”
In summary, Kevin Svenson, a popular crypto analyst, anticipates a significant upward movement for Chainlink and suggests that capital flow from Pepe to larger cryptocurrencies like Bitcoin and Ethereum could lead to a market-wide surge. Furthermore, he predicts a bullish move for Bitcoin that could result in a 65% increase, potentially igniting a bullish season for altcoins.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
