Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.
Recent predictions from a prominent crypto analyst suggest that Bitcoin (CRYPTO: BTC) is poised for a significant rally, with Chainlink and Avalanche also showing bullish signs.
What Happened: Bitcoin, the premier digital currency, is currently hovering around $26,888 at the time of writing. Yet, the crypto strategist known as Altcoin Sherpa anticipates a swift ascent for Bitcoin, foreseeing its return to its record peak of roughly $69,000.
This projection indicates a potential surge exceeding 150%. "BTC to ATH is inevitable, don’t fight it," Altcoin Sherpa said in an X post on Friday.
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Dont get lost in the lower time frame charts and all of the noise. $BTC to ATH is inevitable, don't fight it. pic.twitter.com/Li4i9jovfRShifting focus to Chainlink (CRYPTO: LINK), Altcoin Sherpa said that the blockchain oracle network has been consolidating for an extended period, spanning over 500 days.— Altcoin Sherpa (@AltcoinSherpa) October 13, 2023
He said he envisions an impending breakout and recommends investors to strategically enter the market between $5 and $7, while eyeing initial bids near the $6.80 mark. Presently, LINK stands at $7.27.
On the other hand, Avalanche (CRYPTO: AVAX), which is considered a rival to Ethereum, is priced at $9.17. The analyst said he holds a bullish stance on its trajectory, forecasting a rise surpassing 14% in the coming weeks. He pinpointed a resistance level at $9.79, which could be followed by a slight pullback before propelling toward an estimated $10.50.
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