A popular crypto analyst, Altcoin Sherpa, is warning of potential market volatility before the end of the year. He believes there will likely be one or more significant price drops in the crypto market before December is over.
Expecting Volatility, But a Strong January?
Despite this prediction, Sherpa remains optimistic about January, citing historical trends suggesting it’s usually a good month for crypto. His advice? Sell off any less desirable holdings to free up cash for potentially better investments in the new year.
USUAL: A Standout Performer?
Sherpa highlights the decentralized finance protocol USUAL (USUAL) as a strong performer amidst the recent market downturn. He notes that its resilience during a broader market sell-off is a positive sign, and he’s even increased his holdings. At the time of writing, USUAL is trading at $1.25, down over 13% in the last 24 hours.
Bitcoin’s Potential Bottom?
Turning to Bitcoin (BTC), Sherpa believes it’s nearing a local bottom after falling below $100,000. He anticipates a bit more downward movement before a potential reversal, though he cautions that this might not be the absolute bottom. His chart analysis suggests a possible drop to $90,911 before a rebound. Currently, Bitcoin is trading around $97,325.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
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