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August 9, 2022
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Bitcoin, Ethereum, and three other cryptocurrencies are heavily undervalued

The massive cryptocurrency strategist and trader believes that Bitcoin, Ethereum, and three other cryptocurrencies have even greater upside potential. According to him, this year they are traded well below their fair value.

BTC, ETH, FTT, SOL, NRV

In a new tweet, an analyst known as Flood informs its 118,900 subscribers that Bitcoin (BTC) still has over 200% growth potential from its current valuation. The analyst believes that Bitcoin’s fair value this year is $ 172,000.

As for Ethereum (ETH), Flood says the leading smart contract platform could grow by more than 60% this year. This would mean that we can expect an ETH of $ 3,333 in 2021.

Flood is also looking at FTX Token (FTT), a native asset of the FTX cryptocurrency exchange. He believes the FTT is likely to soar by 344% – from the current price of $ 50 to $ 220.

The smart contracts platform has also hit the trader’s target. According to Flood, the fair value of the SOL token is $ 77. This means the coin could grow more than 185% from its current price of $ 27.

Last on the trader’s list is Nerve Finance (NRV), an automated market maker operating on Binance Smart Chain. Flood is bullish on NRV. According to him, the NRV may reach the level of USD 22.22 this year. This would be an almost 500% increase from the current price of $ 3.73.

Portfolio update

Flood also updated the assets that make up its portfolio. The analyst rolled in more FTTs and NRVs in view of the recent bullish price action while reducing his stake in Solana. He added that he got rid of his stake in Ethereum, Aave and Raydium (RAY) at not very favorable prices. The trader also points out that the PancakeSwap (CAKE) decentralized exchange is now part of his portfolio. He bought the platform’s native tokens at an average price of $ 17.2.

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