Experts and analysts in the cryptocurrency world closely follow the price movements of Bitcoin (BTC) and altcoins. Several prominent crypto traders shared their insights and predictions pointing to potential fluctuations and corrections in the market. Here are the details…
Altcoin Sherpa: Bitcoin will rally
Altcoin Sherpa, an analyst by the pseudonym, believes that Bitcoin may experience a modest rally before experiencing a correction. According to altcoin Sherpa, BTC will show a single-digit percentage increase from its current levels. It has the potential to reach $32,000. The analyst suggests that this level is important as it can act as a liquidity pool before a potential downside move. However, Altcoin Sherpa also acknowledges the possibility of BTC surpassing $32,000 and continuing its upward move towards $40,000.
Analysis of altcoin Sherpa extends to Ethereum (ETH) and predicts a drop in its trading against BTC. The analyst suggests that ETH/BTC is likely to drop into the low range around 0.05307000 BTC, which is equivalent to $1,614. Altcoin Sherpa sees ETH/BTC as a macro indicator for altcoins. It implies that altcoins as a whole could face difficulties if they perform poorly.
Shifting its focus to the meme coin named Pepe (PEPE), Altcoin Sherpa expects a significant increase of about 45% from its current value of about $0.00000162 to $0.000002348 before a cooldown period. The analyst emphasizes that there are no resistance levels above this point and suggests that PEPE may reach at least the 0.50 Fibonacci level during the current run.
Pentoshi: BTC ready for next rise
cryptocoin.com Pentoshi, another prominent crypto strategist who correctly predicted the end of the Bitcoin bull market in 2021, as we reported, believes that BTC is ready for its next leg. Pentoshi’s analysis shows that Bitcoin’s recent pullback has already met its predicted pullback, briefly dropping below $30,000. The trader remains optimistic about Bitcoin’s market structure and states that nothing important has changed. Holding the support around $30,000, Bitcoin appears to be in a bullish position, with Pentoshi predicting a rally towards the $32,400 level.
Pentoshi also suggests that Ethereum could follow in the footsteps of Bitcoin and experience a rally. The trader expects ETH to trend towards yearly highs and potentially approach $2,150.
Van de Poppe: There are positive indications
Meanwhile, popular crypto analyst Michaël van de Poppe highlighted the positive indicators for the overall market cap of BTC and the cryptocurrency market as a whole. Van de Poppe pointed out that Bitcoin dominance has reached a level not seen since 2019. He predicts that this will potentially lead to a drop and an altcoin rally in the next four to six weeks. Also, van de Poppe shares his views on the altcoin Arbitrum (ARB), emphasizing the importance of the $1.30 level in the upward movement.
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