An altcoin that was once very famous in the cryptocurrency market but is now far from the Top 10 of the coinmarketcap, has the potential to rise more than 2,000% once the price of Bitcoin (BTC) passes its all-time high near $65mil, points out the cryptocurrency analyst Justin Bennett.
Bennett was right in December of last year in predicting a big bullish rally for Bitcoin. At that time, the analyst was right to say that the BTC would close the CME futures gap before starting a new historical high, which was what happened right after.
Now, the strategist points out that VeChain (VET) can be ready to register impressive earnings and surprise the entire market as long as the BTC succeeds in keeping investors warm about the future of the cryptocurrency market.
So, Bennett says that as long as Bitcoin (BTC) can reach new highs above $65,000, VET is expected to reach a high of 1335% in the next two months.
In addition, according to him, if the new cycle of market high ends up being prolonged and lasts until next year, then the VET will rise further and exceed $3, which represents a 2,627% increase over current prices.
“Bitcoin above $65,000 = $1.60$VET in December. If the December peak falls short of that and the cycle lasts through March 2022, #VET will likely be in the $2-$3 range,” he said.
— Justin Bennett (@JustinBennettFX) October 13, 2021
In the short term, Bennett sees immediate resistance tests at $0.13 and $0.14. Vechain’s all-time high is $0.28, which still represents a 150% move..
Four small cap altcoins up 300%
Four altcoins, Dopex (DPX), Popsicle Finance (ice), Radio Caca (BREED) and Spell Token (SPELL) with low market capitalization have risen by more than 300% in the last four weeks, showing that the BTC’s bullish momentum is already helping to drive the entire crypto-actives market.
Dopex is a decentralized options exchange, Popsicle Finance is a multichain yield optimization platform, Radio Caca is a non-fungible token (NFT) platform, and SPELL is the governance and utility token of the Abracadabra.money decentralized finance platform.
DPX, which has a market capitalization of more than $268 million, hit its highest record of $1,992.31 on Monday, increasing 331% in the past 30 days.
Popsicle Finance’s ICE token also hit an all-time high of $24.02 on Monday, the platform has a market capitalization of over $247 million and, in the last 30 days, ICE has increased by 644%.
NFT platform Radio Caca saw its token hit a record high of $0.00271085 on Sunday. As a result, RACA has a market value of over $374 million and grew 381% in the last 30 days.
Finally, the Spell Token (SPELL) also hit its highest record of $0.02406690 on Sunday, so in the last 30 days the SPELL has increased by 1107%. Spell Token has a market capitalization of over $830 million.
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