A closely followed trader suggests that smart contract platform Solana (SOL) might be the fastest horse in the crypto bull market.
The trader known as Cantering Clark shares with his 76,000 followers a snapshot of a collection of different cryptos throughout the day.
He notes that even while Bitcoin was receiving all of the attention during its rally past $60,000, SOL quietly outperformed the rest of the market.
“There are so many reasons to have been long SOL to this point. Are you seeing the trend yet? Even on a day where Bitcoin is the main show, Sol is outperforming. Fast horse.”
Looking at Bitcoin and the crypto markets in general, the trader says he’s keeping his outlook simple. He sees the upcoming launch of a Bitcoin exchange-traded fund (ETF) as a bullish catalyst that should send prices higher.
“How many people are going to get long as hell thinking each confirmation is going to yield a higher result?
I believe in the inefficiency of this market.
ETF = ATH”
According to Canterin Clark, Bitcoin will take the lion’s share of capital flows moving into the near term. He says he expects altcoins to underperform compared to BTC.
“If you think Bitcoin is going to break the ATH soon and you are also positioned heavily in alts, maybe rethink that…
Because when Bitcoin breaks the ATH alts are going to get cut down. So yes, the post absolutely makes sense.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.