dailyhodl.com
A widely followed crypto analyst says that one top-20 altcoin will eventually skyrocket by 85% while updating his outlook on Bitcoin ($BTC) and the meme asset dogwifhat ($WIF).
In a new thread, crypto trader Altcoin Sherpa tells his 245,800 followers on the social media platform X that layer-1 blockchain Hyperliquid ($HYPE) is a standout digital asset that will eventually hit a price tag of over $50.
“Some interesting looking charts out there. $HYPE is a standout, I still own zero right now but this is still one of the best projects in crypto and I will continue bull posting it. Still not sure if I’d buy here given the landscape but it should go to $50+ eventually.”
However, the trader does not give a timeframe of when the asset could rise to $50, a rise of about 85%. $HYPE is trading for $27.50 at time of writing, a 10.5% increase during the last 24 hours.
Moving on to the crypto king, the trader says he expects $BTC and altcoins to dip sometime before June, presenting buying opportunities for some and panic for others.
“If wanting to buy for longer-term positions and you are not as active: probably wait for $BTC to have a dip relatively soon. Anywhere from low to mid $90,000s is my guess/hope. Alts probably go -20% or 30% lower (or even more from the highs on some) [and] people will scream ‘it’s over.'”
The top crypto asset by market cap is trading for $103,950 at time of writing, a 1.6% gain during the last 24 hours.
Concluding his analysis with the memecoin $WIF, Sherpa says that some of its points of potential reversal may be of interest to traders.
“Some retraces on some good coins still, I am interested in playing some of these bounces… But coins like $WIF have some interesting bounce areas coming. Would view the $0.90 region as one here.”
The trader’s chart indicates that $WIF will bounce off the $0.90 price tag sometime by the end of the month. $WIF is trading for $1.12 at time of writing, a 10.5% gain on the day.
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