Cryptocurrency trader and YouTube influencer Aaron Arnold is highlighting his top five cryptocurrencies as he predicts the cryptocurrency markets are about to go crazy.
In a new video, Arnold tells his 998,000 YouTube subscribers that he is optimistic about the decentralization of Chainlink Oracle.
“Chainlink is kind of an excellent chip at what it does. No other oracle cryptocurrency like Chainlink is doing this as big as Chainlink… LINK looks like it is preparing for a hack. So Chainlink, yes, I am optimistic as long as we are in a bullish cycle.”
Looking at Polkadot (DOT), Arnold cites a crypto strategist who believes that an interoperable blockchain will follow in the explosive altcoin Solana (SOL) footsteps.
“This particular analyst compares it, saying the DOT could pull a move like Solana. Getting some major sentiments for Solana from the DOT. He was dismissed a few times, but I think the trajectory (weekly candle close), in relation to the previous all-time high. And the fact that he didn’t fully pump that run. I hope he shines like SOL in the next couple of weeks.”
As for Elrond (EGLD), the crypto trader is highlighting that the internet-wide blockchain recently printed a golden cross, a bullish signal as the 50-day moving average (MA) crossed above the 200-day moving average. Arnold cites another analyst who says that during the previous two golden crosses, EGLD reached a new all-time high in 62 days. Arnold says the analyst expects EGLD to reach $2,500 on October 18.
Next up is Ethereum competitor Avalanche (AVAX), which the cryptocurrency trader says is gaining momentum as more users pour into the smart contract platform.
“We saw what happened with Solana and AVAX, in my opinion, is very similar to Solana. AVAX is gaining overall in network, popularity and price action. What they do seems to be attracting a lot of people [users]. “
The latest coin on the trader’s radar is the privacy-focused Mina protocol (MINA), which Arnold says is backed by some of the best venture capital firms in the crypto industry. He adds that the long-term holders of MINA have no good reason to sell due to the staking mechanisms of the coin.
“I don’t think there will be a lot of selling anytime soon because the way staking works, the highest rewards for bettors occurred in the first eight months or so. [one] general. So there’s really no reason to sell, unless you can always take a profit but I think a lot of people want those bonuses.”
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Featured Image: Shutterstock/ studiostoks and Kundra