Popular cryptocurrency trader Credible Crypto believes that bitcoin (BTC) has reached a local bottom and “creates the basis” for a trend reversal. The analyst, who was previously distinguished by Ripple’s accurate forecasts, also draws attention to altcoin. Here are the details…
Bitcoin and Altcoin Forecasts from the Seer Ripple
Credible, which previously saved forecasts of Ripple and various altcoins, as we reported as Kriptokoin.com , informs 326,900 Twitter followers that Bitcoin is providing a bullish divergence to an important support level. Credible also said that, in his opinion, Bitcoin provides the basis for a return of $30,000 to $40,000, but warns that “it will take several days to develop.”
The cryptocurrency with the highest rating by market capitalization reached $46,900 in early April before falling to the current levels of sideways trading. At the time of writing, BTC is trading at $41,369.83, which is 1.6% more in the last 24 hours and almost 3% more in the last week.
The analyst named the cryptocurrency that he will choose
Credible also says that if he had to choose a crypto asset to buy and store for ten years, he would choose the altcoin Convex Finance (CVX) for decentralized finance (DeFi). Convex does not offer withdrawals or minimum performance fees, rewarding liquidity providers and Curve (CRV) participants on the Curve Finance exchange. CVX can be invested in Convex Finance to receive a share of income from the Curve liquidity pool.
Convex Finance is a platform created for CRV token holders and Curve liquidity providers to receive additional interest rewards and Curve trading commissions for their tokens. In other words, Convex Finance offers an increased number of Curve bets. Curve is a decentralized exchange specializing in stablecoins. Since stablecoins are much less volatile than other cryptocurrencies, they are ideal for liquidity providers to avoid irreversible losses. Where the Curve becomes really nice for LP is in the reward structure. Curve Tokens (CRV) are awarded to LP as a reward for growing crops and can be converted into CRV (CRV with vote deposit).
