© Reuters. Optimism Is Akin To A Race Car ‘Revving At The Starting Line,’ Bullish Analyst Says Benzinga – by Murtuza Merchant, Benzinga Staff Writer.
A close observer of Optimism (CRYPTO: OP) expects that the digital asset is “very likely going much higher.”
This prediction follows OP’s recent all-time high in otherwise volatile market conditions, which saw Bitcoin ‘s (CRYPTO: BTC) price dip to $41,800.
In a series of social media posts, the analyst — who goes by the handle The Flow Horse — likened Optimism’s recent price action to a race car “still revving at the start line.”
The token enjoyed a successful retest and reclaim of its yearly high of $3.45, aligning with similar past performances across the market.
“Just look across the entire market and see what has followed with each pair that has done this,” Flow Horse stated, urging investors to give Optimism “room to breathe” and anticipate further upward movement.
However, The Flow Horse acknowledged the influence of Bitcoin’s stability on overall market sentiment.
He also expressed optimism for Mina Protocol (CRYPTO: MINA), a privacy-focused blockchain aiming for a lightweight footprint, suggesting it could see significant growth “if BTC stabilizes.”
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Mina’s resilience, remaining in the green and hovering near record highs despite the market dip, further solidified his confidence.
The analyst was also tentatively optimistic about Bitcoin itself, but noted the recent increase in funding rates indicated a potential leverage-fueled price manipulation.
Prior instances of altcoins rallying in response to Bitcoin’s decline are “not a good look,” according to the analyst.
Overall, The Flow Horse’s analysis highlighted Optimism’s potential for significant gains, while urging investors to remain mindful of Bitcoin’s influence and potential market instability.
His focus on the Mina Protocol suggests an additional avenue for potential growth amidst the current market uncertainty.
Read Next: Crypto Hedge Funds Rise From The Ashes: 3 Industry Leaders Touting Significant Gains
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Optimism Is Akin To A Race Car ‘Revving At The Starting Line,’ Bullish Analyst Says
