Altcoin Sherpa, one of the closely followed analysts in the cryptocurrency market, claimed that a lesser-known altcoin, Hyperliquid (HYPE), could experience significant gains of up to 150% in the short term.
Altcoin Sherpa, a well-known figure in the crypto community, stated in a post on the social media platform X that the decentralized finance (DeFi) token Hyperliquid (HYPE) has formed a bullish pattern on the daily chart, which could significantly drive the price upward.
In a post addressing his approximately 245,000 followers, Sherpa noted that he opened a small HYPE position on April 30;
"I am not sure how long I will hold. However, I still think it is one of the best utility coins in the market. If Bitcoin and market conditions remain healthy, I wouldn't be surprised if the price reaches $50," he said.
Another striking assessment made by the analyst was related to the four-year cycles in the traditional cryptocurrency market. According to Sherpa, altcoins will no longer adhere to this cycle, which is based on Bitcoin's mining reward halvings and occurs every four years.
Sherpa stated, "In my opinion, there are no longer traditional four-year cycles that require coins to go through a two-year accumulation period. We could see extremely rapid rises and falls within three to six months from now. Altcoins have the potential to drop by 50-90% and then rise several times," urging investors to be prepared for the new volatility period.