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Cryptocurrency News Articles
Sherpa the Trader Leans Bullish on Bitcoin (BTC), Eyes Three Altcoins Including Sui (SUI)
Oct 10, 2024 at 05:15 pm
A widely followed cryptocurrency analyst and trader is leaning bullish on Bitcoin (BTC) while offering his outlook on three altcoins.
Cryptocurrency analyst Sherpa is bullish on Bitcoin (BTC), Sui (SUI), Aptos (APT) and Eigenlayer (EIGEN).
According to Sherpa, Bitcoin is experiencing “extremely tight” price compression, which could lead to a big move, “probably to the upside.” BTC is trading at $62,150 at the time of writing.
Next up is layer-1 altcoin Sui, which has seen “insane” price performance recently. However, Sherpa notes that the supply of Sui is set to increase in the future.
“This makes a great trade but maybe not the best hold given unlocks.”
Sui is trading at $1.92 at the time of writing, up by over 100% over the past 30 days.
Next up is the native token of layer-1 blockchain Aptos. The pseudonymous analyst says,
“APT: not sure how this is in the long run but it definitely looks really strong in the short term. Probably would be a good spot trade here where you just sit on it and wait for it to go to $10+. Decent coin.”
Aptos is trading at $9.12 at the time of writing, up by nearly 50% over the past 30 days.
Finally, Sherpa discusses the Ethereum restaking protocol Eigenlayer, noting that the protocol is at a crossroads.
“Better to wait for the true break and then hop on the train later in my opinion. We will see if this actually has any sort of sustained momentum.”
Eigenlayer is trading at $4 at the time of writing.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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