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.
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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.
