Bitcoin Price Mirrors Late 2018 Pattern, Is $30,000 Imminent?

The crypto market is currently flashing a mixed signal where most of the large cap cryptocurrencies have turned red. However, the first two cryptocurrencies, Bitcoin and Ethereum, are still holding on to their crucial level of $23,000 and $1,500 area. At the time of writing, Bitcoin has dropped 0.15% and is now trading at $23,082.

Meanwhile, a well-known crypto strategist and trader who is anonymously known as Altcoin Sherpa is predicting a bullish target for DYDX, GMX, and Injective. The analyst claims that these three decentralized altcoins are performing really well while the crypto market’s shifts between ups and downs.

Currently, DYDX is trading at $3.14 after a surge of 23.31% over the last 24hrs. While GMX and Injective are worth at $57.7 and $3.30 with a gain of 1.33% and 16.35% respectively in the past day.

Bitcoin Price At $30,000

Next, the strategist talks about Bitcoin and claims that the King currency is moving mirroring its late 2018 and early 2019 trade cycle. As per the analyst, Bitcoin had a massive bull run in 2018 once the currency was pulled back. Back then the flagship currency had spiked from $3,000 level to that of $14,000 area.

Further, Altcoin Sherpa claims that Bitcoin is trying to display a similar pattern in 2023. However, he believes that this trade pattern is for a short term.

Before Altcoin Sherpa concludes his analysis, he is confident that Bitcoin will hit a target of $25,000 and also reach as high as $30,000.