A Crypto Trader Believes This Altcoin Has Potential in the Next Bull Market
A popular crypto trader has expressed optimism about the future prospects of a particular altcoin during the next bull market expansion. According to Altcoin Sherpa, Rollbit’s native token (RLB), which belongs to a crypto casino platform, is expected to perform well in the upcoming bullish phase.
However, Altcoin Sherpa also notes that Rollbit may face bearish trends in the short term, with a potential decline of over 35% to reach “$0.07 or lower.” The analyst cites regulatory concerns as a possible trigger for this correction and states that they are not interested in buying at current prices.
The Future of Bitcoin and Its Potential Support Level
Altcoin Sherpa also shares their perspective on Bitcoin (BTC) and its short-term outlook. The trader believes that their previous prediction of BTC reaching $28,000 is unlikely to come true. Instead, they suggest that Bitcoin’s support level is around $25,500, although they express reservations about this level.
Altcoin Sherpa explains that there could be a potential shift in market structure for many exchanges, as lower lows have been observed. They view this area as a potential low being formed but are not overly enthusiastic about it, and they anticipate the possibility of Bitcoin dropping to the low $20,000s eventually.
Hot Take: What to Expect in the Crypto Market
While Altcoin Sherpa is optimistic about Rollbit’s altcoin during the next bull market, they acknowledge the potential for short-term bearish trends. As for Bitcoin, the trader believes that the support level may be around $25,500 but expresses caution about this prediction. With uncertain market conditions, it remains to be seen how these assets will perform in the near future.
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