A widely followed crypto trader says he has high hopes for one altcoin’s prospects during the next bull market expansion.
Starting with Rollbit (RLB), pseudonymous crypto analyst Altcoin Sherpa tells his 196,400 followers on the social media platform X that the native token of the crypto casino platform is “going to be very good in the bull market.”
According to Altcoin Sherpa, Rollbit faces bearish prospects over the short term and it could fall by over 35% from the current price to “$0.07 or lower.”
On what could trigger the correction, Altcoin Sherpa says,
“Several things that could go wrong though in terms of regulation etc. I’m not interested at these current prices.”
Rollbit is trading for $0.108 at time of writing.
Turning to Bitcoin (BTC), Altcoin Sherpa says that his prediction that BTC would reach $28,000 over the short term is unlikely to come true. According to the analyst, Bitcoin’s support level is around $25,500, though he has reservations about it.
“High time frame view: potential shift in market structure for many of these exchanges where we had a lower low. I’m still viewing this area as a potential low being formed, but I’m not super excited about it and wouldn’t be surprised to see us go lower to the low $20,000s eventually.”
Bitcoin is trading at $26,683 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Trader Says This Altcoin Could Be ‘Very Good’ for Next Bull Market, Details Path Forward for Bitcoin appeared first on The Daily Hodl.
