Despite Bitcoin (CRYPTO: BTC) dipping below the $100,000 mark on Monday, prominent cryptocurrency traders remain positioned for upside for the first quarter of 2025.
What Happened: Widely-followed trader Smiley Capital on X disclosed his heavy allocation to crypto since early 2023.
In a detailed post on Friday, he shared that he has shifted strategies, focusing more on trading and short-to-medium-term opportunities due to increasing market fluctuations.
Additionally, the trader rotated more into altcoins, assuming the main altcoin movie is imminent.
He added that BTC has seen a major move from $15,000 to $108,000, but before a prolonged distribution stage he predicts a final push of 50%-75% from current prices.
The trader has strong conviction in Solana (CRYPTO: SOL) outperforming Ethereum (CRYPTO: ETH) and that outperforming Bitcoin.
He sees more than $7,000 for Ethereum, with BTC at $120,000-$140,000 and Dogecoin (CRYPTO: DOGE) at $1.5 to $2.
Smiley also reiterated his confidence in his positions, having entered Bitcoin at $20,000 in January 2023, and expects substantial gains before planning his exit strategies.
Also Read: Trump Signs Executive Order On Crypto, Bitcoin Reserve To Be ‘Evaluated’
What's Next: The trader predicts artificial intelligence to dominate as the best-performing sector, though meme coins might rival it due to higher market caps despite challenges from token dilution.
He predicts a strong market period from February to May, offering lucrative opportunities while a quieter summer with emerging narratives, potential corrections, and attrition in altcoins.
The trader warns of the possibility of significant 50% drawdowns, urging caution despite optimism.
Read Next:
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
