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The widely followed cryptocurrency analyst and trader has expressed bullish expectations for altcoins.
The analyst known as Sherpa tells his 220,000 followers on social media platform X that altcoins are likely to see another rally similar to the one that occurred between November 2023 and March 2024.
On when the next altcoin price spike will occur, Sherpa says He says,
“I think it will probably come around December or January of this year.
“It would be good if Bitcoin hits an all-time high and then cools down.”
According to For the pseudonymous analyst, the upcoming altcoin season could be relatively mild.
“But we will still see some amazing/strong moves where altcoins move 3x to 5x+.
A true altcoin season similar to January 2021 might not happen for years to come, to be honest. But altcoins will mostly rebound (with only a few real outliers emerging, as is usually the case).
widely followed analyst He says Altcoins that currently offer “safe and good” trading opportunities include decentralized finance (DeFi) platform Aave (ghost), Ripple currency And the first layer tokens of BNB Chain (BNPAnd you seeTRX).
According to Sherpa, new currencies like the Solana-based decentralized physical infrastructure network io.net (io), DeFi BounceBit Protocols (B B) and explosion (explosion) “Not completely safe but probably acceptable if Bitcoin holds up.”
The analyst, who also uses a pseudonym, says cryptocurrencies like Popcat (bobcat), Dogwifts (Wave) and baby (baby) are riskier but offer potentially higher rewards.
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Featured image: Shutterstock/issaro prakalung
