Cryptocurrency Analyst Sherpa Expresses Bullish Outlook on Altcoins, Says Altcoin Season Likely to Return in December/January

The widely followed cryptocurrency analyst and trader known as Sherpa is expressing bullish outlook on altcoins.

A cryptocurrency analyst and trader boasts a large following on the social media platform. The analyst, who goes by the pseudonym Sherpa, is known for their technical analysis and insights into the cryptocurrency markets. Recently, Sherpa has been expressing a bullish outlook on altcoins.

In a new update, Sherpa tells their 220,000 followers on the social media platform X that they believe altcoins are likely to experience another rally. The analyst points out that a previous altcoin rally occurred between November of 2023 and March 2024.

According to Sherpa, the next altcoin rally could begin as early as December or January. The analyst believes that the upcoming Bitcoin halving event and a potential rally to a new all-time high could set the stage for the next wave of altcoin gains.

“I think it will probably come around December/January of this year. It will set up well with Bitcoin hopefully hitting an all-time high and then cooling. But we’re still going to see some amazing/strong moves where altcoins move 3x to 5x+

True altcoin season similar to January 2021 might not happen for years to be honest. But altcoins will bounce back for the most part (with only a few outliers truly standing out, as normal).”

The pseudonymous analyst also notes that the next altcoin season may be relatively mild compared to previous ones. However, Sherpa adds that they still expect to see some altcoins experience significant gains of 3x to 5x or more.

According to Sherpa, some altcoins that are currently offering “good safe” trade opportunities include decentralized finance (DeFi) platform Aave (AAVE), XRP and blue-chip layer-1 tokens BNB Chain (BNB) and Tron (TRX).

The analyst adds that new coins, such as the Solana-based Decentralized Physical Infrastructure Network (io.net / IO), DeFi protocols BounceBit (BB) and Blast (BLAST), are “not so safe but probably okay if Bitcoin holds.”

Sherpa also notes that memecoins, such as Popcat (POPCAT), dogwifhat (WIF) and Pepe (PEPE), are riskier but offer potentially higher rewards.

“Memecoins are riskier but also can give you the best 10x-50x+ if you’re lucky and pick the right ones. Some that are still around / not completely dead yet:

Popcat (POPCAT)

dogwifhat (WIF)

Pepe (PEPE)

Etc, be careful with these.”