Altcoin Sherpa, a well-known cryptocurrency strategist, believes that Chainlink (LINK), an Ethereum-based digital asset, is poised for a significant increase in value. With over 500 days of trading within a well-defined range, Altcoin Sherpa sees LINK as a strong contender to outperform other altcoins in the next bull cycle. Noting that Chainlink serves as core infrastructure for numerous projects with few competitors, Altcoin Sherpa recommends considering LINK for long-term investment.
At the time of writing, LINK is valued at $7.53, indicating a more than 8% increase over the past 24 hours. This positive price movement supports Altcoin Sherpa’s belief in the potential growth of Chainlink. However, Altcoin Sherpa also highlights another altcoin, Rollbit Coin (RLB), which is the native asset of the crypto gambling platform Rollbit. While Altcoin Sherpa is bullish on RLB’s long-term prospects, he predicts a decline in its price in the coming weeks. Citing concerns about regulations and other potential issues, Altcoin Sherpa advises against investing in RLB at current prices.
The current price of RLB stands at $0.106, reflecting a more than 3% decrease in value in the past 24 hours. Interested investors should consider Altcoin Sherpa’s cautious stance before engaging with RLB.
In terms of Bitcoin (BTC), Altcoin Sherpa expresses caution, suggesting that its bullish momentum may falter and potentially cause the cryptocurrency to slide closer to $20,000. Although Altcoin Sherpa still believes there is a possibility of a low being formed in the current market structure, he remains skeptical and would not be surprised to see BTC drop to the low $20,000s in the future.
As of the time of writing, Bitcoin is trading at $26,276, signaling a level of uncertainty in the market. Investors should closely monitor Bitcoin’s performance and take Altcoin Sherpa’s warning into consideration when making investment decisions.
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However, it is essential to note that the opinions expressed in this article are not investment advice. Investors should conduct their own research and due diligence before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Transfers and trades are inherently risky, and any losses incurred are the responsibility of the investor. The Daily Hodl does not endorse or recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. It is essential for investors to exercise caution and make decisions in their best interest.
In conclusion, Altcoin Sherpa predicts that Chainlink (LINK) has the potential for significant growth in the next bull cycle due to its fundamental strength and position as core infrastructure for multiple projects. However, he advises against investing in Rollbit Coin (RLB) at current prices due to potential regulatory concerns. Altcoin Sherpa also expresses caution regarding Bitcoin (BTC) and warns of a potential slide in its price. Investors should stay informed and exercise due diligence when considering investments in the cryptocurrency market.
