An expert cryptocurrency analyst and trader, known as Altcoin Sherpa, has shared his prediction that Bitcoin (BTC) could reach a six-figure price in the near future. With a following of 217,000 on the social media platform X, Altcoin Sherpa suggests that Bitcoin could surpass $100,000 “later this year,” marking a potential increase of at least 48% from its current price.

Altcoin Sherpa notes that Bitcoin is currently trading between $56,000 and its all-time high of around $73,600. He dismisses this range as mere “noise,” highlighting that the market is still volatile with a bullish outlook on higher timeframes and choppy movements on lower timeframes.

In terms of Bitcoin’s current price, it is sitting at $67,727 at the time of his analysis. Looking ahead, Altcoin Sherpa points to the 200 exponential moving average (EMA) on Bitcoin’s four-hour timeframe as a key indicator for determining the direction of BTC’s price movement. He explains that when the price is above the EMA, it acts as a support level, while below it, it acts as resistance. He anticipates some trading below the EMA before a potential bounce.

When it comes to altcoins, Altcoin Sherpa believes that their price action will be closely tied to Bitcoin’s performance. Despite short-term challenges, he predicts that strong altcoins will experience another significant surge once Bitcoin surpasses its all-time high. While the timing of this breakout remains uncertain, Altcoin Sherpa is confident that it could happen within the next six months, leading to a rally in altcoins, particularly the most robust ones, possibly meme coins.

In conclusion, Altcoin Sherpa advises caution and recommends conducting thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. He emphasizes that all trades and transfers are at the investor’s own risk, and any losses incurred are their responsibility. The Daily Hodl, where Altcoin Sherpa’s insights are featured, does not provide investment advice and encourages readers to exercise prudence in their financial decisions.