A crypto trader says crypto king Bitcoin (BTC) could surge to a new high in 2023 before a correction.
Pseudonymous analyst Altcoin Sherpa says Bitcoin could rise single-digit percentage points from current levels to $32,000.
According to altcoin Sherpa, Bitcoin could potentially fall drastically after the modest rally.
“BTC: It looks like a tough one here, but the next big level is $32,000 in my view. It seems likely that this will get there before there is a major move down – likely there is a lot of liquidity up there to collect.
Or it might just break through $32,000 and keep going up to $40,000…I’m not sure. In my opinion, it will be $32,000 either way.”
Source: Altcoin Sherpa/Twitter
Let’s move on to trading Ethereum (ETH) vs BTC (ETH/BTC), Altcoin Sherpa says that Ethereum is likely to fall against the flagship crypto asset and target the bottom around 0.05307000 BTC or $1,614.
“ETH/BTC: This has been tumbling for two years and I still think it’s falling to the lows. ETH/BTC is a good macro indicator for altcoins and as long as it’s performing poorly, altcoins are likely to do just as well (overall).”
Source: Altcoin Sherpa/Twitter
Next is the memecoin Pepe (PEPE). According to altcoin Sherpa, the memecoin could do this rise by nearly 45% from around $0.00000162 to $0.000002348 before the rally cools off.
“PEPE: I’m still exposed to this, and above that level there’s nothing but hot air. I still think it will reach at least the 0.50 Fibonacci level before this current surge is over and I will take profits there.”
Source: Altcoin Sherpa/Twitter Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
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