Crypto king Bitcoin ( BTC ) could surge to new 2023 highs before correcting, according to one cryptocurrency trader.
Anonymous analyst Altcoin Sherpa said Bitcoin could rise by single digit percentage points from current levels to $32,000.
According to Altcoin Sherpa, Bitcoin could be headed for a sharp drop after a small rally.
“BTC: It’s looking tough, but I think the next big level is $32,000. It looks likely to get there before any major downside move – there’s probably a lot of liquidity to collect.
Or is this just a breakout above $32,000 and a continuation to $40,000… not sure. Either way, I think $32,000 is coming.”
Talking about Ethereum ( ETH ) against BTC (ETH/BTC) trading, Altcoin Sherpa said that the price of Ethereum against the flagship crypto asset could decline, targeting a range low around 0.05307000 BTC, or $1,614.
“ETH/BTC: Has been down for 2 years now and I still think it will hit lower. ETH/BTC is a good macro indicator for altcoins and as long as this metric underperforms, altcoins (as a whole) will likely underperform as well.”
Next up is memecoin Pepe ( PEPE ). According to Altcoin Sherpa, the memecoin could surge nearly 45% from around $0.00000162 to $0.000002348 before the rally cools off.
"PEPE: I'm still exposed to this and there's nothing but hot air above this level. I still think it'll at least hit the 0.50 Fib level before the current run ends and I'll take profits there."
