A widely followed crypto trader says he has high hopes for one altcoin’s prospects during the next bull market expansion.
Starting with Rollbit (RLB), pseudonymous crypto analyst Altcoin Sherpa tells its 196,400 followers on social media platform
According to Altcoin Sherpa, Rollbit faces a bearish outlook in the near term and could fall more than 35% from the current price to “$0.07 or lower.”
On what could cause the correction, Altcoin Sherpa says:
“However, several things could go wrong in terms of regulations etc. I am not interested in current prices.”
Rollbit is trading at $0.108 at the time of writing.
As for Bitcoin (BTC), Altcoin Sherpa say that his prediction that BTC would reach $28,000 in the short term is unlikely to come true. According to the analyst, Bitcoin’s support level is around $25,500, while that is the case reservations about the.
“High Timeframe: Potential shift in market structure for many of these exchanges where we had lower lows. I still view this area as a potential low forming, but I’m not super excited about it and wouldn’t be surprised if we eventually drop into the low $20,000s.”
Bitcoin is trading at $26,683 at the time of writing.
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Generated image: Midjourney