Experienced cryptocurrency analyst and trader Altcoin Sherpa stated that he has high expectations from Rollbit Coin (RLB), which has been one of the most talked about altcoins in the recent days, during the next bull market surge. Altcoin Sherpa also shared his latest observations for the crypto king Bitcoin (BTC).
Altcoin Sherpa, an anonymous cryptocurrency analyst and trader who started his latest market commentary with Rollbit Coin, stated that he expects RLB to make a strong breakthrough and become the shining star of the market in the next bull market. According to Altcoin Sherpa, Rollbit is currently facing the risk of a short-term pullback and may drop more than 35% from the current price, possibly reaching $0.07 or even lower.
Altcoin Sherpa also mentioned that there are many factors that could trigger a correction in Rollbit Coin, stating “There are many things that can go wrong in terms of regulations. I am not interested in RLB at the current prices.”
Data shows that RLB has traded at $0.121 with a 16.45% increase in the last 24 hours, indicating that the altcoin has exceeded the level expected by the analyst.
Altcoin Sherpa, who also looked at Bitcoin after RLB, drew attention to the decreasing possibility of Bitcoin reaching $28,000 in the short term. According to the analyst, the closest support level for Bitcoin’s price is around $25,500, but he expressed concerns about this and said:
I believe that we will reach a lower low in the higher time frame, and this will trigger a potential change in market structure for most exchanges. I still see this area as a potential bottom that is forming, but I’m not very excited about it and it wouldn’t surprise me to see us eventually drop below $20,000.
With a current market value of $513.9 billion, BTC continues to be the number one cryptocurrency in the market, trading at $26,380 with a 0.46% increase in the last 24 hours.