Earlier this year, Bitcoin (BTC) launched a strong rally, reaching an all-time high of $73,628 on March 14. One expert crypto trader, who accurately predicted this move, has returned with a bold new claim. The trader has expressed concerns about Solana (SOL), suggesting that the cryptocurrency is overrated despite its impressive rally in 2024. Additionally, the trader has revealed a promising alternative crypto asset that could become the next big gainer, following a recent 100% price surge.
Bitcoin’s Rally and New ATH
Bitcoin kicked off the year holding above the $42,000 mark. The asset remained range-bound until breaking out at the beginning of February to reach a new all-time high of $73,628 on March 14. This surge was partly triggered by the launch of Spot Bitcoin ETFs in the United States towards the end of January and improving market sentiment across the crypto market. Notably, this all-time high was achieved a full month before the first Bitcoin halving, contrasting with the 2021 bull run, when this milestone was crossed after the halving.
A top trader who had identified the developing momentum around Bitcoin at the beginning of the year predicted that the asset would surpass its previous all-time high of around $69,000 and set a new record above $73,000. This trader now believes that Solana, despite showing strength during the 2024 bull run, is overhyped and has underlying issues.
The Trader’s Take on Solana
Solana has been celebrated for its performance during the 2024 bull run, thanks to its strong price action. The asset briefly soared above $209 in March, signaling its potential for a new all-time high, previously set at $259.
However, the trader has raised two significant issues affecting Solana: its frequent network outages and relatively high inflation rates. The Solana network has experienced several major outages in recent years, raising concerns about its stability and reliability. The most recent outage occurred on February 6, 2024, lasting approximately 5 hours. This was the network’s 11th unplanned outage in two years, and it highlighted ongoing challenges, including centralization issues and a lack of software diversity.
The trader has also expressed concerns about Solana’s high inflation rates, currently at 11.13% according to Coincodex. Following the laws of supply and demand, this high annual inflation rate could negatively impact SOL investors if the cryptocurrency fails to generate sufficient demand.
MoonTaurus (MNTR): The Next Big Altcoin
Amidst this backdrop, the trader has revealed an altcoin, MoonTaurus (MNTR), which could be the next big gainer and is a must-watch over the next few months. MoonTaurus is a recently launched meme coin currently in its presale phase. The presale has been successful, raising over $340,000 in just two weeks.
The presale is now in its second phase and has attracted over 1,000 unique token holders. The price of MNTR has also surged 100% to $0.01 as the presale progressed to stage two. Similar price increases are expected to continue until the token launches at $0.07, securing a 700% return for early investors who buy in phase two.
One of the key factors driving the success of MoonTaurus is its limited token supply. With only 3 billion MNTR tokens available, the fixed supply will remain constant even as demand grows, which is likely to trigger significant price growth. This strategy contrasts with Solana’s inflationary token model, which has seen circulating supply increase by over 10% in the past year.
The project’s roadmap has also played a crucial role in its appeal. MoonTaurus plans to list on both decentralized and centralized exchanges, a dual approach that will maximize market exposure and liquidity, facilitating broader investor access and engagement. Among the centralized exchanges will be high-profile CEXs, which serve millions of users globally. One of the key goals in the roadmap is to achieve a $1 billion market cap, a milestone that would position MNTR among the largest players in the meme coin market.
MoonTaurus has garnered strong endorsements from whale investors, including those who previously achieved success with meme coins like PEPE. These whales, who are now taking part in the MoonTaurus presale, have boosted the project’s credibility and attracted new investors.
The endorsement from a respected trader, coupled with MoonTaurus’ recent presale success, makes it a project to watch closely over the next few months. MNTR offers investors an opportunity to get in early on a promising asset, while top market players like Solana face challenges. According to the trader, MoonTaurus could soar to $1 by the end of the 2024-2025 bull run, representing a 100x rally from its current price.
Website: https://moontaurus.com/Linktree: https://linktr.ee/moontaurus
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Source: https://cryptodaily.co.uk/2024/08/crypto-trader-who-predicted-bitcoins-74000-peak-calls-solana-overrated-reveals-next-big-altcoin-up-100-in-august