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Cryptocurrency strategists say cryptocurrencies such as Bitcoin (BTC), Polygon (MATIC) and Solana (SOL) will double in price in the new year.
Pseudonym Analyst Altcoin Sherpa To tell His 187,800 Twitter followers say the worst of the economy is likely over, with more than 100% returns in place for several digital assets by December 2023.
Sherpa To tell The crypto market will improve in 2023, but the volatility will remain and the market may capitulate once more.
2023 is going to be an interesting year. I think it will be very fragmented from sector to sector.
The Sherpa has based its price target for December 2023 on his forecast that macroeconomic conditions will improve, and has historically 4th quarter It has given rise to crypto markets, especially altcoins.
Logic: I think the overall macro environment will be a little bit better by the end of 2023. We also saw a lot of Q4 gains in 2017, 2020 and 2021, and altcoins will be better off in those years and 2018. I think it went up in the 4th quarter for most of 2019. Alts are up in the 4th quarter almost every year.
Looking at Bitcoin, Sherpa To tell Kingcrypt is likely to start rising early next year, but we’re also seeing some declines.
BTC: I think it will go up towards Q1 and then get more painful after that. I think there is an overall $15,000 to $30,000 range for most of the year, with deviations on both ends.
According to Sherpa, bitcoin is likely to reach $35,000 by the end of the year. At the time of his writing, Bitcoin is trading at $16,833.
According to Sherpa, Ethereum (ETH) is likely to outperform Bitcoin, with a price forecast of $3,200.
ETH: It has outperformed BTC across the board and I think it could continue to do so.
At the time of writing, Ethereum is trading at $1,218.
Sherpa To tell Ethereum rival Solana could rise to $35, but could remain weakened by the impact of the FTX collapse.
SOL: I think it will recover, but it will depend on overall selling pressure from FTX/SBF.
As of this writing, Solana is trading at $11.82.
next sherpa To tell Chainlink (LINK) maintains Oracle’s dominance, predicting LINK could reach as high as $14. As of this writing, LINK is trading at $5.98.
The LINK chart looks good and should still be a top oracle.
Sherpa at the end To tell MATIC looks strong with partnership agreements bringing users to blockchain projects.
“Matic: I think we have a good chance in 2023. [Business Development] And the partnership looks good. “
As of this writing, MATIC is trading at $0.80.
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