An expert crypto analyst predicts a double-digit rise in digital assets.
Altcoin Sherpa, a pseudonymous trader and investor, says he expects Bitcoin (BTC) to trigger a rally toward $18,000 but adds that he does not believe crypto has reached its bottom yet.
He stated that Bitcoin would experience a reversal once he predicted it. He also said that altcoins would do well when Bitcoin completes its cycle.
Overall, BTC hasn’t macro-bottomed yet. But I believe we will see its price rise to the $18,000s. We would expect a collapse there and will look for shorts. For the next few days altcoins should continue to perform well, while this is happening for BTC.
Altcoin Sherpa says that Bitcoin’s downtrend has largely stopped in recent months. But he isn’t convinced that the most popular crypto asset according to market cap has reached its bearish market bottom.
“BTC”: A bunch of neutral candles. There is not much to say about it. While I believe that the bulk is over, the macro bottom is not yet established. However, I would not rule out the possibility of a new low at $18,000-$19,000.
He says that Bitcoin could hit $19,000 if the price reaches $17,500. According to him, Bitcoin could reach the low $20,000 mark and be an excellent shorting opportunity.
“I believe we must see the price above $17,500. If that happens, $19,000 could be next.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
