A generally followed cryptocurrency analyst and trader leans Bullish on Bitcoin (BTC) in the short term.
The Analyst Pseudonym known as Sherpa tells Are 246,900 followers on the social media platform X that Bitcoin is ready to gather if it overcomes an important psychological level.
“Quite simple: if BTC breaks $ 110,000, we will steer pretty hard.
Until that time, altcoins probably just chop and vent down somewhat. “
Bitcoin acts at $ 108,819 at the time of writing, a level that was reached less than 3% below the high price of slightly less than $ 112,000 on 22 May.
The analyst also says that the Bitcoin price action will determine the Ethereum process in the coming months. According to For Sherpa, ETH could rise by around 50% in the coming months and around 280% in the long term.
“The funny thing about this is that ETH is probably still going to $ 10,000, even because ETH/BTC is only down. Don’t know what happens in the short/medium term, but $ 4,000 should come within a few months as long as Bitcoin will last.”
Ethereum trades at $ 2,643 at the time of writing.
The widely followed analyst and trader too out Solana (SOL) looks Bullish at the daily period of time, but the process depends on the price action of Bitcoin.
“Solana graph still looks pretty solid for a higher period of time.
Solana acts at $ 174 at the time of writing.
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Generated image: midjourney