An expert analyst predicts that there is still potential for digital assets to continue rising, despite concerns of a possible cycle top in the crypto market.
Known as Altcoin Sherpa, the trader shares with his large following on X that the current macro environment and favorable US government stance on crypto could fuel further rallies in digital assets.
Altcoin Sherpa points out that Bitcoin is on the brink of setting a new all-time high and mentions discussions about nations and US states considering creating strategic Bitcoin reserves.
Technically, Altcoin Sherpa observes Bitcoin consolidating above $90,000 and showing signs of expansion, while older altcoins are showing signs of potential growth before the cycle ends.
Historical data suggests that Q1 is typically a bullish period for cryptocurrencies, further supporting the bullish sentiment of Altcoin Sherpa.
Despite the positive outlook, Altcoin Sherpa believes that the market is not at its peak yet, as typical signs of overexuberance are still absent. He anticipates a few more months of growth ahead.
While he remains optimistic about the ongoing bull run, Altcoin Sherpa also advises caution at this stage, as the market dynamics may shift. Some bearish arguments suggest that the cycle could be coming to an end due to unclear narratives and Bitcoin’s struggle to surpass $100,000.
As of now, Bitcoin is trading at $105,836.
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