A senior crypto strategist, shiba inuof (SHIB) says that the pullback it has experienced this week could be a positive signal for the rest of the crypto market.
DonAlt, a famous crypto trader, in the latest issue of TechnicalRoundup; He claims that a permanent correction in Shiba Inu will lead retail investors to deal with cryptoassets with strong fundamentals.
“I think as long as this continues, we’re going to be pretty good. of Shiba [Inu] of dogecoin [DOGE] you want to see it bleed as it lives, because then it’s retail [yatırımcıların] You will witness the focus shift from meme coins to real projects.
This will likely involve the rest of the retail investors… and that’s pretty good news for us, folks in the ecosystem.”
SHIB is currently rebounding a bit from past days and is changing hands at $0.000054, up over 7 percent.
Also examining Bitcoin (BTC), DonAlt shared with his followers what he thinks is the most likely scenario for BTC in the coming months:
“I think we have a chance to take a false exit, like a break above $67,000, go sideways and start breaking down again. Altcoins in this period [yan konsolidasyon] if it does well… I think this kind of way is the most likely.
“I believe we have a chance of getting a fake exit like at a break above $67,000, then we will go sideways and start breaking down again. If altcoins perform well during this period of horizontal consolidation, I believe this is the most likely path. like this [Bitcoin] It rises towards $70,000 to $80,000. A little sideways and then down as altcoins explode.”
Bitcoin is trading at $64,936 at the time of writing, according to CoinGecko data.
to Ethereum (ETH) As for it, the crypto strategist said it is only a matter of time before the leading smart contract platform initiates a rally similar to what it did when it surged from $1,500 in February to $4,300 in May earlier this year. Noting his chart, DonAlt added that Ethereum could climb as high as $6,600 before experiencing a significant correction.
Ethereum is trading at $4,744 at the time of writing, according to data from CoinGecko.
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.