Altcoin Sherpa, a cryptocurrency analyst and trader known for his predictions, made a short-term assessment of Bitcoin (BTC) and altcoins. Analysts especially warned that altcoins could fall in the short term.
Warns for Altcoins in the Short Term
Anonymous cryptocurrency analyst Altcoin Sherpa emphasized that she continues to expect long-term growth from personal accounts on social media platforms.
Stating that Sei (SEI), the rival of Solana (SOL), one of the strongest altcoins of recent months, has lost some of its gains in recent days, the analyst said:
The overall environment has definitely changed a bit and it’s become one where you don’t want to continue blindly longing every decline. Altcoins are not being bought as quickly/strongly as they used to and even leaders like SEI are pulling back.
Could we see a green day tomorrow? It’s definitely visible. However, the trend seems to be decreasing slightly on the lower time frames.
Does this mean it’s over, no. I think the higher timeframes are still extremely bullish, but I wouldn’t be surprised to see many of them continue to pull back.
The game here is simply to cool your spot positions at lower levels (hopefully) and add to your spot bags at lower levels later.
If you are leveraged, be cautious and patient with the wild volatility that will likely come with ETF news. Remember not to use too large/high leverage. If you can’t wait, some other altcoins still look good in the short term.
According to Analysts, Bitcoin Will Somehow Pull to 40 Thousand Dollars
Following comments on the altcoin market, Altcoin Sherpa focused on Bitcoin, saying that some “inefficiencies,” high-volatility areas, and potentially weak positions may need to be retested in the near future. The analyst stated that he expects the largest cryptocurrency to somehow retest the $40,000 level, saying:
In Bitcoin, inefficiency has been filled mostly on the upside, and this has some downsides, such as a steep decline. One day we will learn this by experiencing it.
