The cryptocurrency market continues to consolidate after closing the week lower. Even though the leading crypto Bitcoin lost 70 thousand dollars, it does not give up fighting. The altcoin market has a mixed outlook. In this environment of increasing uncertainties, an analyst with a large following is bullish on a Solana-based meme coin. Additionally, the analyst is updating his view on the top two crypto assets.
Altcoin Sherpa is still bullish on this booming meme coin, but…
As you follow on Kriptokoin.com, as the US elections approach, the size of the waves in the market has begun to increase. Leaving Uptober behind, the crypto world started November with a decline. Some tokens that the market talked about a lot in October are still on the agenda. A popular analyst nicknamed Altcoin Sherpa says he is “still very bullish” on Solana-based meme coin Goatseus Maximus (GOAT).
The analyst predicts GOAT will reach a market cap of $1 billion, up from its current valuation of $477 million. This means a gain of over 100%. However, before any rally, the analyst notes that the meme coin will see a correction to the $0.47 level. In this context, the analyst said, “As I mentioned before, I believe that on-chain coins will take a breather for a while after the crazy rise and more interest will be shown in CEX coins.” he says. Meanwhile, in line with the analyst’s prediction, GOAT was trading at $0.4769 at the time of writing. GOAT is up over 1,100% from its October 13 low of $0.0435 to today.
Source: Altcoin SherpaAnalyst’s view of Ethereum and Bitcoin
The analyst is also looking at leading altcoin Ethereum (ETH). Altcoin Sherpa says ETH will experience a false breakout in the near term. He also predicts that it will drop to the $2,400 level, after which it will go through a consolidation phase. In this regard, the analyst said, “Still, once Bitcoin explodes, ETH/BTC will also explode. But until BTC is done, ETH/BTC will continue to underperform.” he says. Meanwhile, Ethereum was trading at $2.83 at the time of writing, down 2.84% on a daily basis.
Source: Altcoin SherpaFinally, the analyst discusses the leading crypto Bitcoin (BTC). The analyst predicts that BTC will reach its all-time high “within the next few months.” Altcoin Sherpa adds that Bitcoin is likely poised to rebound after reaching a key support level. In this context, the analyst said, “The next areas were hit. “There will still be a bounce soon for BTC.” he says. Meanwhile, Bitcoin was trading at $69,205 at the time of writing.
Source: Altcoin Sherpa
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