Top Analyst Outlines What’s Next for Altcoins As Bitcoin Enters ‘Chop Suey Channel’

Top Analyst Outlines What’s Next for Altcoins As Bitcoin Enters ‘Chop Suey Channel’

A widely-followed trader and crypto strategist remains long-term bullish on Bitcoin as he says the leading cryptocurrency could pull off a massive 650% increase.

The pseudonymous trader known as Jack Sparrow explains to his 96,300 followers why he believes Bitcoin can potentially rise to as high as $300,000.

“$300,000 Bitcoin is hard to fathom for people, but put in perspective not so much. If store of value/money is a winner takes all proposition and Bitcoin wins, it really is just a matter of time. $300,000 is like only half the gold market cap. It’s conservative (but consider timeline).”

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In the near-term, the trader says BTC could rally over 26% even after the dominant crypto asset printed a new all-time high of $41,941, according to CoinMarketCap.

“Bullish continuation of Chop Suey Channel resolves in the next pump to $43,000 and $54,000 in my opinion.”

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