The global economy remains unstable and rising costs have prompted many to consider Bitcoin as an investment option. However, before jumping on the bandwagon, it’s critical to consider what Altcoin Sherpa, a well-known cryptocurrency expert, has to say.
Sherpa’s Positive Bitcoin Prediction
Despite recent gains, Altcoin Sherpa warns against this Bitcoin is trading sideways without a clear pattern. Over the past 48 days, Bitcoin has fluctuated between $25,000 and $30,000, and its strength is why many experts prefer it to gold and fiat money, which are collapsing due to the global crisis.
SUI network
Sui Network (SUI) is gaining ground and attracting the attention of traders. Based on Fibonacci retracement levels, Altcoin Sherpa believes the blockchain will fall back to the $1.29-$1.27 zone. However, he warns that if Bitcoin drops, SUI could fall even further to USD 1.24. Despite this, Sherpa believes that as long as BTC is stable, SUI is in an accumulation phase. Sui Network’s value is down 1.9% in the last 24 hours and now stands at $1.31.
Pepe (PEPE)
Then the trader speaks about Pepe (PEPE), a meme coin that debuted last month, and its recent price spike. He expects Pepe and other meme coins to lose value. According to Sherpa, PEPE variants are hot right now, but all other meme coins are on the rise. These coins will all expire and have a short life. He believes the next few weeks will be a terrible mess, as always.
Arbitration (ARB)
Finally Sherpa applications EMAs and Fibonacci retracement levels to predict a possible drop in the price of Arbitrum to the $1.15-$1.20 zone. He claims lower liquidity due to the popularity of meme currencies and ‘coins of the month’.
Overall, Bitcoin is up 1.5% in the past 24 hours to $29,305, while Sui Network is down 1.9% to $1.31 and Arbitrum is up 3% to $1.36. Despite the volatility of the cryptocurrency market, Sherpa’s analysis can help investors make more informed decisions.
