A closely followed crypto analyst says it’s only a matter of time before Bitcoin (BTC) hits its all-time high (ATH) again. Additionally, the analyst predicts that the altcoin price is ready to explode.
Altcoin Sherpa: Bitcoin will eventually rise to ATH!
cryptokoin.comAs you follow from , crypto markets are gathering strength ahead of a new momentum. Leading cryptocurrency Bitcoin is struggling to get $27,000 in the calm market over the weekend. An analyst with the pseudonym Altcoin Sherpa tells his 196,700 followers on X that BTC will eventually rise. Moreover, the analyst suggests that BTC will return to its all-time high around $69,000. In this context, the analyst makes the following statement:
Don’t get lost in the lower time frame charts and all the noise. BTC rising to ATH is inevitable, don’t fight it.
At the time of writing, Bitcoin was trading at $26,915, up 0.6% on a daily basis. In this case, a rise towards the all-time high of $69,000 would mean a jump of more than 150%. The analyst does not specify a timeframe. However, he expects this rise in the run-up to the halving event, which will probably take place next year.
Altcoin Sherpa expects a breakout from LINK
The popular analyst next looks at Blockchain oracle Chainlink (LINK). Altcoin Sherpa says LINK has remained in an accumulation range for over 500 days. However, the analyst predicts that LINK will eventually implode. In this regard, the analyst makes the following statement:
LINK: It has been in accumulation and decline for more than 500 days. This will fly one day. I think the best way (for most investors) to play this is:
- DCA (dollar cost averaging) is $5-$7 (I know that’s a big range).
- Sit on this as long as necessary and wait for the range to break.
- Initial bids could be around $6.80.
Meanwhile, LINK was trading at $7.31 at the time of writing, up 1.72% on a daily basis. The token lost 3.44% value on a weekly basis. However, it is sitting above gains of around 20% on its monthly chart.
Analyst predicts over 14% increase for AVAX in the short term
Finally, the analyst covers Ethereum (ETH) rival Avalanche (AVAX). Altcoin Sherpa says it is possible for AVAX to rise more than 14% from its current value in the medium term. The analyst expresses his predictions on this subject as follows:
AVAX: I think this is a dip buying situation:
- Stars Arena is coming back/hack money is back.
- Logical S/R (support/resistance) area, this is near the starting point.
- I expect it to rise above $10 again in the medium term.
Looking at its chart, the analyst seems to believe that AVAX will encounter resistance at $9.79, decline slightly, and then rise to around $10.50. At the time of this writing, AVAX was trading at $9.21, up 1.45% on a daily basis. However, the token lost approximately 12% of its value according to its weekly chart. AVAX remains in the red zone on a monthly basis.
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