Algorand (ALGO) has struggled greatly throughout the bear market after failing to launch in the 2020/2021 bull market. This has seen the altcoin’s price decline more than 96% from its 2019 all-time high price. However, investors have not lost hope in the coin as one crypto analyst sees an incredible bullish launch in the future of the asset.
Algorand (ALGO) To Reach $300
In an incredibly bullish post made back in July, pseudonymous crypto analyst Divergencemaker83 on TradingView gave what is arguably one of the most bullish outlooks for Algorand (ALGO). The forecast predicts that the altcoin’s price will rise as high as $300.
This is interesting because a move to $300 would mean a 10x from its previous all-time high, as well as a 300,000% increase from its current price of $0.11. Such a move would put it on par with the likes of Dogecoin and Shiba Inu which saw explosive growth as well.
The first forecast was posted by the crypto analyst back in July and despite ALGO’s slow movement since then, the analyst has not backed down. In a follow-up post on Tradingview, Divergencemaker83 points to accumulation going on as retail traders continue to buy the coin.
He points out that the Algorand trading volume is low but does not think it is anything to worry about. Rather, the analyst asks investors to keep building on the support being established as high trading volume will return.
ALGO price charted to all-time high | Source: Tradingview.com
According to the analyst, the real high volume flows come not when a coin does 50% or 100%. But rather, “High volume flows when the altcoin markets start moving 500% to 1000% on a regular basis.”
The chart shared by the trader in the follow-up also reiterates the 3-digit price target for Algorand. However, this time around, it carries a much lower ceiling of $124 compared to the $300 price target in the first chart.
Crypto Analyst Beats Cancer
Although the Algorand (ALGO) price prediction by the analyst is interesting, what’s even more interesting is the update on the account. Back in July when they first posted the ALGO prediction, the analyst revealed that their cancer had come back and they might not see the price action predicted.
This is my final posting. I know many things I will take to the grave and this last secret had to be shared with everyone. Buy hold and live your life it’s so short. My cancer is back so I will not be around to see it. Will miss you all my crypto family. Peace and long life. Take care everyone. Good bye,” Divergencemaker83 wrote.
ALGO price struggles below $0.1 | Source: ALGOUSDT on Tradingview.com
However, the trader made an update on Wednesday, October 4, revealing that they had beat cancer for a SECOND TIME. “I beat the cancer again so I have more time to live thanks to modern medicine.”
From all of us at Bitcoinist, we want to say congratulations to Divergencemaker83 on beating this nasty disease. Cancer sucks, you rock!
Source: https://bitcoinist.com/algorand-algo-breakout-300/