Bitcoin, Ether, Solana targets; 3 Altcoins to buy

• Cryptos rebound as spring approaches, dispelling fears of a long “crypto winter”.
• Crypto chartmaster Forrest Przybysz shared where bitcoin, ether, and solana are heading.
• Here are three altcoins to watch with a set of crypto to revolutionize the global payment system.

Winter finally seems to be coming to an end, both in the northern hemisphere and in the cryptocurrency market.

In late January, crypto card maker Forrest Przybysz couldn’t rule out the possibility of one crypto winter, which is a bear market where enthusiasm and investment are drying up for crypto companies and tokens. And while the founder and CEO of crypto software company CryptoStackers still can’t rule out a slowdown, he notes that interest is growing again.

Bitcoin, the largest token by market cap, is now up 22% from its mid-March lows. The original cryptocurrency is often seen as a barometer for smaller cryptos. Indeed, the best altcoins like ether and solana are up 31% and 55%, respectively, over this period. For context, bitcoin and ether are still 30% off all-time highs while solana is at 53%.

Crypto-skeptics have warned that such wild swings are a textbook sign of a bubble. And – perhaps surprisingly – Przybysz wouldn’t disagree. The former director of crypto research at Token Metrics told Insider in a recent interview that, like last falldigital chips are in a bubble.

“I think the market right now is extremely, extremely speculative,” Przybysz said. “I compare it to the dot-com boom.”

In the late 1990s, investors were euphoric about the Internet’s potential to change the world. And, as Przybysz and MI2 Partners run Julian Bridgen said recently Insider, they were absolutely right. The problem is that they were too early for the party. Buying dot-com stocks in the early 2000s was a bad bet, as most tech companies pulled back or saw their stocks plummet.

“When you think back to the dot-com boom, and you look at pets.com or dogs.com – whatever crazy domains – just didn’t have a business plan and just had super, super high valuations just because it was the dot-com boom,” Przybysz said. “It was a speculative market. But what emerged after the dotcom bubble burst was real demand for real utility that arose.”

Just over 20 years later, Przybysz sees a parallel between dot-coms and cryptos, though that doesn’t diminish the latter’s potential. Many cryptos are likely to be wiped out due to weak use cases, he said, as will internet bubble companies without a viable plan. But also note that Amazon and Google’s parent Alphabet survived the dot-com crash and now dominate.

Where are the cryptos going? Consult the graphs

If Przybysz is correct in believing that history is repeating itself as a crypto washout wipes out many tokens while the lucky few survive and thrive, then the multi-billion dollar question is: which cryptos will be the winners?

It’s impossible to know, but many believe that today’s biggest crypto players are likely to be leaders in the future instead of being displaced like Yahoo and AOL have been.

Although Przybysz is bullish on a trio of relatively unproven altcoins, the three crypto charts he chose to discuss are three widely followed: bitcoin, ether, and solana. Charts are particularly useful for analyzing cryptos, as traditional valuation metrics used for stocks, such as the price-to-earnings ratio, do not apply to digital assets. This makes cryptos both difficult to value and highly volatile.

Bitcoin has not reached the lofty heights that Przybysz once predicted, but the technical analyst has always been remarkably accurate in his prediction for the token. Its price bottomed out in late January at just over $35,000 – just on the edge of what Przybysz had called “the territory of the bubble”.And the crypto stayed perfectly within the high $30,000-$40,000 range that he predicted.

“We were pretty much successful in terms of buying and market timing,” Przybysz said, adding that he personally bought bitcoin declines “aggressively” in the first few months of 2022.

Przybysz’s current outlook for bitcoin is optimistic as he believes investors will continue to diversify away from the US dollar with inflation at 40 year highs. Although the original crypto hasn’t shown any signs yet to act as a hedge against inflation, Przybysz thinks that may change. Either way, the chartmaster said bitcoin is undervalued relative to itself and can continue its run.

“We broke through a big resistance at $46,000,” Przybysz said. “And I’m expecting some chop here in the near term between probably $45,000 and $53,000 to give it another $1,000 either way. But our levels right now are $46,000 and $52,000. $ is also a great resistance level.”

Ether, which is the native token of the Ethereum blockchain, can rise from $3,400 and hit an overextend target of $5,200 to $7,000 if it can maintain its positive momentum, Przybysz said. A network update for crypto called “ethereum 2.0” will reduce supply and could push the token into a range of $5,000 to $10,000 in the longer term, the CryptoStackers CEO said.

Solana, whose promoters have labeled as an “ethereum killer” due to its lower fees, can go from $125 to $220 or $294, according to Przybysz charts. Dips under $100 should be purchased.

3 altcoins that could revolutionize global payments

Contrary to popular belief, not all cryptocurrencies are efficient payment mechanisms. For example, the volatility of bitcoin and the fees that last year reached over $60 per transactionaccording to YCharts, make crypto less efficient at sending money than some of its competitors.

Przybysz named three altcoins he believes have the potential to transform the global payments system, which is plagued by high fees and long wait times to settle transactions.

“It’s still very inefficient,” Przybysz said of the global payment system. “All things considered, there is a lot of counterparty risk and there are a lot of parties involved – not just to send funds from person to person across borders, but for entities like corporations and banks to settle and moving money across borders as well. And it can also often take between one and three days for that money to clear. It’s very, very inefficient.

Of the three altcoins — nano, XRPand stellar — Przybysz said nano was by far his favorite. It’s the only one of the three he has, though he’s eyeing the other two. Below is a table of each altcoin with its symbol, market cap, and Przybysz’s thesis for each.