Bitcoin, Polygon, and One Ethereum Rival Will More Than Double in Price, Says Crypto Analyst, Here’s the Timeline

[ad_1]

A crypto strategist says the new year will see the price of several cryptocurrencies double, including Bitcoin (BTC), Polygon (MATIC), and Solana (SOL).

Pseudonymous Altcoin analyst Sherpa tells his 187,800 Twitter followers that the worst of the economic woes are likely over and by December 2023, over 100% gains are in store for some digital assets.

Sherpa says the crypto market will improve in 2023, but instability will persist with another market capitulation still likely.

2023 will be an interesting year. I think the worst is largely behind us, but I think a final capitulation awaits us. However, I think we will have a lot of bearish rallies and liquidity will be very fragmented, moving from sector to sector in 2021.

Sherpa bases its December 2023 price targets on its prediction that the macroeconomic situation will improve and that historically the fourth quarters have led to rallies in the crypto markets, especially for altcoins.

Logic: I think the overall macro environment will be a bit better by the end of 2023. I also think we’ve seen a lot of Q4 rallies in 2017, 2020, 2021 and altcoin is rallying most of Q4 of those years plus 2018/2019 . The Alts had rallies almost every year in the fourth quarter.

When it comes to Bitcoin, Sherpa says the king of crypto will likely start rallying early next year, but will also see some dips.

“BTC: I think we’ll see a rally in the first quarter and then more pain later. gaps at both ends.

Sherpa says Bitcoin will likely hit $35,000 by the end of the year. At the time of writing, Bitcoin is changing hands at $16,833.

Sherpa says Ethereum (ETH) is likely to outperform Bitcoin, with a price prediction of $3,200.

“ETH: I think BTC is outperforming globally and could potentially be so in the future.

At the time of writing, Ethereum is changing hands at $1,218.

Sherpa says Ethereum rival Solana could gain momentum at $35, but it could remain weakened by the impacts of the FTX collapse.

“SOL: I think he is recovering, but it depends on the overall selling pressure from FTX/SBF.

At the time of writing, Solana is changing hands at $11.82.

Next, Sherpa says Chainlink (LINK) will maintain its oracle dominance, predicting that LINK can reach up to $14. At the time of writing, LINK is changing hands at $5.98.

The LINK chart looks good and should always be a leading oracle.

Finally, Sherpa says that MATIC seems strong with its partnership agreements bringing users to the blockchain project.

“MATIC: I think I have a good chance in 2023, their [Business Development] and the partnerships seem good.

At the time of writing, MATIC is changing hands at $0.80.

Don’t miss a beat Subscribe to receive crypto email alerts straight to your inbox Check price action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headlines Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/TadashiArt

[ad_2]