The closely followed cryptanalyst Michaël van de Poppe names five decentralized finance (DeFi) altcoins that he believes have the potential to generate massive profits.
In a new strategy session focused on BTC pairs, Van de Poppe starts his list with AAVE, saying that money market protocol has entered a new bull cycle and is preparing to start against Bitcoin.
The trader says AAVE / BTC could hit the 0.02 mark or rally around 300% from the last local low of 0.005 in the coming weeks.
Van de Poppe’s second hot DeFi coin is the decentralized Launchpad Avalanche (AVAX) for applications. According to the trader, a significant break above the 0.00081 area would trigger a strong rally for AVAX / BTC after AVAX completed its corrective actions.
“We saw this big increase earlier this year and since then we’ve had this big corrective step. And since we just discussed with AAVE that we weren’t following FOMO (fear of missing out), exactly the same thing happened with AVAX. Like here we can see that we have a very hard correction to the actual price reference point. “
The trader says that 0.0006 could be the ideal entry point for AVAX / BTC to catch a ride of possibly up to 0.0019, which is a 216% profit.
The third DeFi coin on Van de Poppe’s list is the Bitcoin pair from Kyber Network (KNC), based in Ethereum. The trader says KNC / BTC is likely to prepare for a rally of at least 110% from its current value of 0.00006.
“So we’re starting a bull cycle, like we did at the beginning of 2020. So KNC is ready for a sequel where the target zone we are looking at is in this area between 11,000 (0.00011) and 12,000 (0.00012) satoshis. “
The number four DeFi coin on Van de Poppe’s radar is the decentralized Exchange Curve Finance (CRV). According to the widely used cryptanalyst, CRV is one of the most undervalued projects in the space and could be poised for a 132% gain over Bitcoin if CRV / BTC breaches 0.00008.
“I’m looking to the next run towards 20,000 Satoshis (0.0002), but we’re also looking at a new bull cycle for Curve that can just go on as long as the trend stays there.”
The last DeFi crypto asset on Van de Poppe’s list is the Yearn.Finance (YFI) automatic income generator. In his view, a huge 142% rally is likely to brew in YFI / BTC, with 0.99 being the launch pad and 2.8 being the target.
“Particularly given that YFI is also making those higher ups and downs at this stage, I think we are just about to begin a new parabolic advance, and given that AAVE is running significantly in itself, these are the five that are I ‘I look up … “
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Featured image: Shutterstock / Liu Zishan