Crypto

Crypto Asset May Rise in October, Analyst Says, With Broader Altcoin Market Charged as a Spring

A leading crypto analyst says traders are watching the barrel of a loaded altcoin market ready to explode.

Crypto Trader Justin Bennett recount its 109,600 Twitter followers that altcoin markets, crypto markets excluding Bitcoin (BTC), are about to explode.

“The altcoin market cap chart is rolled up for something big in October.”

Source: JustinBennettFX/Twitter

Bennett marks the leading altcoin by market capitalization, Ethereum (ETH), as well as the once-hot enterprise solution blockchain VeChain (VET) alongside the chart.

ETH is trading at $1,354 at the time of writing, up 2% on the day.

VeChain, also up 2% in the last 24 hours at $0.024, is a smart contract blockchain platform for businesses. It offers a list of services to improve product lifecycle management and data certification. Smart contracts on VeChain move value through VET transactions. The altcoin was hot during the peak of the bear market last year, but has since fallen off a cliff, along with most of the altcoin market.

But according to BennetVET may be ready to start a comeback.

“VET is starting to look attractive at this low end combined with the decline in the wedge since August.

Range game possible for October.

Source: JustinBennettFX/Twitter

A few hours after sharing the painting above, Bennett share another, almost confirming his hypothesis.

“VET is really getting closer…”

Source: JustinBennettFX/Twitter

VeChain is down 91% from its all-time high in mid-April last year.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Feature Image: Shutterstock/jiang jie feng/Andy Chipus



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