A well-known cryptocurrency trader, Altcoin Sherpa, Bitcoin (BTC) while believing that the bull market is still in full swing; In particular, he predicts that a cryptocurrency will experience an early altcoin season.
Trader known as Altcoin Sherpa, decentralized streaming platform theta (THETA), and informed his 145,900 Twitter followers that THETA may be poised to rally and outperform many altcoins in the space ahead of the rise.
“I believe this will rise to the moon sooner than other altcoins. It’s been in the accumulation range longer than most and has been really pumping for a long time.
I expect many alternatives to look the way SNX looks in 2020. V-shaped inversion/accumulation/expansion.”
Other altcoinTalking about how s will behave, Sherpa continued, saying that THETA, unlike the rest of the general crypto market, tends to generally act on its own terms:
“THETA is one of those that can outperform the others. It has been around longer than others AND also has its own market cycles/usually doing its own thing.”
According to CoinGecko data, THETA is trading at $7.41, down 7.5 percent at the time of writing.
When it comes to Bitcoin (BTC), the popular analyst says the dips may be shallower than those experienced in 2020 as the context surrounding the market is different.
While the pullback was 17 percent before the rise in 2020, the most recent BTC pullback was just under 14 percent.
“BTC: Market structure, conditions, charts are all different from the other 20,000 resistance price action in 2020. However, the price is ATH [tüm zamanların en yüksek] retracements just as deep as this [olması] not needed. Just up.”
Sherpa also examines Algorand (ALGO) and states that this altcoin, which is trying to break out of a sideways trend, may have a hard time outperforming Bitcoin.
“ALGO: I believe this will continue to circulate a lot. Not sure if it will outperform BTC; It doesn’t seem very likely.”
Finally, the analyst, who also took a look at the blockchain indexing protocol The Graph (GRT), says that GRT may be about to rise after highlighting that the token is showing signs of accumulation.
“GRT: This coin appears to be showing some signs of accumulation. A nice volume is coming. I would be willing to scale here for a passive trade.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.