Analyst Revises Forecast for Altcoin Following 23,000% Annual Surge, Sets Optimistic Price Goal for Bitcoin

An established cryptocurrency analyst is adjusting his stance on a meme coin that has seen enormous increases over the past twelve months.

During an insightful strategy briefing, the crypto currency expert known as Altcoin Sherpa informs his base of 222,900 followers on platform X about Popcat (POPCAT). He notes that this memecoin has surged an impressive 23,000% to date this year, and highlights the bullish appearance of this and other alternate cryptocurrencies for the first time in several months.

“These shifts in market structure are currently visible in cryptocurrencies like POPCAT and various others. With a bullish trend emerging after months, it’s advisable to consider purchasing on the dips for some of these options.”

Sherpa projects that feline-themed meme tokens might be poised for a game of catch-up with their canine-themed counterparts in the current investment circuit.

Trading at $0.912 at the moment of this narrative, POPCAT has benefited from a 1.8% boost within the last day. As of January 5th, its evaluation stood at $0.000379, which marks a 23,963% rise since then as reported by CoinGecko.

Moving to an analysis of Bitcoin (BTC), Sherpa cautions traders about the false impression of its recent small rally; as historical trends since April have consistently shown lower highs and lower lows, despite occasional upticks.

“Despite the enjoyable rally of BTC over the last week or so, a broader perspective is essential. We’ve only seen descents to lower highs and lower lows since April’s rallies. A promising higher low was spotted in early September. A break through the $65,000 barrier would be ideal.”

The analyst emphasizes that a surge past $65,000 for Bitcoin would likely signal a positively changing tide, marking the crypto giant’s first bullish market structure observed in a long while.

“Once we break past the $65,000 ceiling, we might finally witness a bullish market structure for the first time in months, with a higher high and higher low. Let’s hope the break happens and sustains positive momentum this time around.”

He also suggests that, with Bitcoin’s dominance index on the rise, it may lead to certain alternate cryptocurrencies performing better as Bitcoin finds a stable level.

Bitcoin is currently valued at $62,187, reflecting a slight dip over the last 24 hours.

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