Altcoin Sherpa, a popular crypto analyst and trader, thinks the three altcoins are poised to rise in price after several months of downtrend. The analyst also shares his comments about the leading cryptocurrency Bitcoin with his followers. Here are the details…
According to the analyst, investors are not looking for new ATHs in the crypto market
The analyst and trader, known as Altcoin Sherpa in the crypto market, shared his important analysis with his Twitter followers. According to Sherpa, no rational person is currently looking for all-time highs in the crypto market. However, the analyst claims that the price of many altcoins could rise 2-3 times compared to their recent lows. The famous trader draws attention to three altcoins that he believes could rise nearly 200 percent from their mid-March lows.
Altcoin Sherpa thinks that Compound (COMP), a decentralized finance platform used to borrow and lend crypto assets, could completely break the $290 range. As of now, COMP is trading at $142.52, up 22.43 percent in the last week and 6.90 percent in the last 24 hours. Also, the analyst believes Theta Network (THETA), a peer-to-peer distribution platform for video content, could soon surpass $6.50. Theta Network (THETA) is trading at $3.83 at the time of writing.
According to Altcoin Sherpa, investors should expect $50-55k in BTC
Sherpa also claims that CAKE, the native token of decentralized exchange PancakeSwap, could exceed $17 . CAKE is trading at $8.62, up 25.05 percent in the last week and 3.95 percent in the last 24 hours. On the other hand, the popular analyst adds that he does not encourage traders to buy these three specific altcoins. Sherpa, on the contrary, states that he sees these projects as examples of the broader altcoin market.
Altcoin Sherpa states that the overall market still revolves around Bitcoin (BTC). Bitcoin (BTC), whose price movements we closely examine as Kriptokoin.com, recorded an increase of about 12 percent compared to its level a week ago, while trading at $ 47,539.59 at the time of writing. The analyst uses the following statements regarding this issue:
Active investors will be the most rewarded traders in this current environment. Under these conditions, I predict that liquidity will flow from one sector to another. My plan is to still wait for BTC to reach $50,000 – $55,000 and then get some risk off by emptying my fake positions. I will keep many of my favorite positions, which are still good, but sell some and try to merge.
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