According to a well-known researcher, the three cryptocurrencies are expected to break out of the market crisis in the long run and show a short-term bounce.
Anonymous cryptocurrency analyst ‘Altcoin Sherpa’ tweeted to his 180,000 followers that although the ‘altcoin’ daily high on the one-hour time frame [HTF] The charts do not motivate them, they believe that some initiatives may improve for a while.
Sherpa believe that That layer-1 scalability solutions NEAR Protocol (NEAR) and Cosmos (ATOM) both will be successful.
The analyst says that the HTF market system remains highly damaging to many altcoins, even though he does not rule out a brief upward rally entirely.
Right now, Cosmos is selling at $8.84, down 0.94% in the last 24 hours
Near Protocol (Near)
The next currency on Sherpa’s radar is Ethereum (ETH) competitor NEAR.
At the moment, the Near Protocol is at $3.42, down 0.10% over the past 24 hours.
Bitcoin Price to See a Bear Market Rise
Regarding bitcoin (BTC), the most valuable cryptocurrency by market capitalization, Altcoin Sherpa predicts that although bitcoin has been trading south for more than six months, it will return to its uptrend at the end of March of next year. will start from
He continued that the market will face another bear-market surge than in March or April 2022, but he is not sure when or where (or how high) this will happen.
The expert has continued to inform his 10,300 YouTube fans that he believes an upcoming rise to $30,000 in bitcoin could be a possibility.
Looking for a rebound in a bearish market where the price may move higher than we expected.
After identifying $12,000 as a potential bearish phase for Bitcoin, Altcoin Sherpa said that the stock market may ultimately influence the price of BTC rather than just excellence or demand.
Altcoin Sherpa believes that the most recent pessimistic review in March was essentially the last of its kind. Beyond that, everything else consists only of consolidation, collapse, and rupture. Therefore, the claim that we are currently consolidating.
We could easily see another drop towards $12,000 or somewhere else. Although he expects another bear rally, analysts don’t know how powerful it will be or when it will happen. He is sure of one thing – stocks will play a key role in this.
At the time of writing, bitcoin is valued at $20,095, up 2.75% over the past 24 hours.