The cryptocurrency market is currently showing a mixed signal in which most large-cap cryptocurrencies have turned red. However, the top two cryptocurrencies, Bitcoin and Ethereum, are still holding at their crucial $23,000 and $1,500 area. At the time of writing, Bitcoin is down 0.15% and is now trading at $23,082.

Meanwhile, a well-known cryptocurrency trader and strategist, anonymously known as Altcoin Sherpa, predicts a bullish target for DYDX, GMX, and Injective. The analyst claims that these three decentralized altcoins are doing very well as the cryptocurrency market swings between ups and downs.

DYDX is currently trading at $3.14 after an increase of 23.31% in the last 24 hours. While GMX and Injective are worth $57.7 and $3.30 with a gain of 1.33% and 16.35% respectively in the last day.

Bitcoin price at $30,000

Next, the strategist talks about Bitcoin, stating that the King coin is moving mirroring its business cycle of late 2018 and early 2019. According to the analyst, Bitcoin had a massive bull run in 2018 once the coin pulled out. Back then, the flagship coin had skyrocketed from the $3,000 level to the $14,000 area.

Furthermore, Altcoin Sherpa claims that Bitcoin is trying to show a similar pattern in 2023. However, he believes that this trading pattern is short-term.

Before Altcoin Sherpa concludes its analysis, it is confident that Bitcoin will hit a target of $25,000 and will also top out at $30,000.

This post Bitcoin Price Reflects Late 2018 Pattern, Is $30,000 Imminent?

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