Altcoin Sherpa, a popular cryptocurrency analyst, shared his predictions for several altcoins, including the largest chest coin, Dogecoin (DOGE). The analyst believes that these coins will experience an uptrend despite the current bearish sentiment. Here are the details…
Analyst expects recovery in 12 months
The widely followed cryptocurrency strategist Altcoin Sherpa recently shared a post on Twitter. His post featured a number of altcoins including XRP, Dogecoin (DOGE), Avalanche (AVAX). According to the statement, the analyst believes that these altcoins will change hands at significantly higher prices in the next 12 months. In addition, the analyst told his 187,700 followers that he thinks the macro base will become available by next year.
In other words, the analyst’s expectation of macroeconomic improvements until December 2023 is a suitable signal for other assets as well. According to the analyst, such a positive development points to a beautification for cryptocurrencies. This indicates the possibility of rally for many altcoins. Besides thinking that the overall macro environment will be better by the end of 2023, the analyst used the following words:
I also think we saw a lot of Q4 rallies in 2017, 2020, 2021, and altcoin rallies in many of Q4 of those years, plus 2018/2019. Altcoins rallied in Q4 almost every year.
Altcoin Sherpa pointed to Dogecoin and these coins
Altcoin Sherpa looks at the top two cryptocurrencies by market cap first. According to the data, these are Bitcoin with a market cap of 323 billion dollars and Ethereum with a market value of 146 billion dollars. Altcoin Sherpa argues that Bitcoin (BTC) will likely hit $35,000 in the next year’s one-to-one cycle. Currently, the price of BTC is around $16,818, down 0.1 percent. He assumes that Ethereum (ETH) will rise to $3,200. Currently, Ethereum is changing hands at $1,218, down 0.1 percent.
The analyst also predicts that Solana (SOL) and Avalanche (AVAX) will rise to $35 and $25, respectively. As for the Altcoin Sherpa, Binance Coin says BNB will likely rise to $400 next year. As it is known, BNB is the token of Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume.
The crypto strategist predicts that the payment solution XRP will rise to $0.60 by December 2023. In the middle, according to Altcoin Sherpa, Dogecoin could witness a decent rise to $0.10 in the next 12 months. DOGE is trading at $0.076 at the time of writing. Other cryptos on Altcoin Sherpa’s list include Chainlink (LINK), Polygon (MATIC), and Polkadot (DOT). The crypto analyst points out that LINK will potentially hit $14 around the same time next year. Just as he believes MATIC will jump to $1.75 and DOT to $9 in the process.