Crypto Analyst Says It’s ‘Inevitable’ Bitcoin Will Soar by Over 150%, Updates Outlook on Chainlink and Avalanche
A closely followed crypto strategist says that it is only a matter of time before Bitcoin (BTC) revisits its all-time high (ATH).
Pseudonymous analyst Altcoin Sherpa tells his 196,700 followers on the social media platform X that BTC will eventually soar and work its way back up its all-time high at around $69,000.
“Don’t get lost in the lower time frame charts and all of the noise.
BTC to ATH is inevitable, don’t fight it.”
Source: Altcoin Sherpa/X
Bitcoin is trading for $26,880 at time of writing and an increase toward its all-time high of $69,000 would be a more than 150% jump.
Next up, the trader says that the blockchain oracle Chainlink (LINK) has remained in an accumulation range for more than 500 days, but he predicts LINK will eventually break out.
“LINK: 500-plus days in accumulation and chop. This will fly one day. I think the best way to play this (for most investors) is to:
- DCA (dollar cost average) from $5-$7 (I know it’s a huge range)
- Sit on this for as long as it takes and wait for the breakout of the range
- First bids could be $6.80-ish.”
Source: Altcoin Sherpa/X
LINK is trading for $7.27 at time of writing.
Lastly, the trader says Ethereum (ETH) competitor Avalanche (AVAX) is likely to increase by more than 14% from its current value in the midterm.
“AVAX: I think this is a buy-the-dip situation:
- Stars Arena coming back up/hack money restored.
- Logical S/R (support/resistance) area, this is close to the point of origin.
- Expecting to get above $10 again in the mid-term.”
Source: Altcoin Sherpa/X
Looking at his chart, the trader seems to believe that AVAX will meet with resistance at the $9.79 level, dip slightly, and then rally to around $10.50.
AVAX is worth $9.17 at time of writing.
Generated Image: Midjourney
