Top-30 Decentralized Exchange Coin Predicted to Increase 150% if Bitcoin Stays Solid

Rewritten Article:

Welcome back, cryptocurrency enthusiasts! Today, we delve into the latest happenings and trends in the world of digital assets, focusing on one top-30 altcoin that's grabbing attention, the changing landscape of crypto cycles, and other exciting updates.

Hyperliquid: A Bullish Bet for 150% Gains?

Pseudonymous analyst, Altcoin Sherpa, recently shared his bullish outlook on the utility token of the decentralized open financial system, Hyperliquid (HYPE). In a tweet to his 245,000 followers, the analyst expressed optimism about HYPE, with potential for it to surge by 150% from its current value as it displays a bullish pattern on the daily chart[1][2].

At the time of writing, HYPE is trading at around $20.50, but Altcoin Sherpa is confident it could reach $50 under favorable market conditions[2]. The analyst believes that HYPE, being a layer-1 protocol for decentralized exchanges (DEXs), has shown a positive trend lately and is one of the solid altcoins in the market, thanks to its strong fundamentals and positive price action[1][2].

Traditional Crypto Cycles -- A Thing of the Past?

Altcoin Sherpa also opines that traditional four-year crypto cycles may no longer be applicable[2]. Over the years, it has been observed that crypto follows Bitcoin's halvings, when miner rewards are halved, which typically occur roughly every four years and tend to precede upward price movements[3].

However, according to the analyst, we might now see extreme moves to the upside and downside, with altcoins like HYPE showing potential for big jumps and steep drops within a shorter timeframe (3-6 months)[2]. This could be a fascinating development for the crypto market, and we'll be keeping a close eye on market trends to see how this pans out.

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Top-30 Decentralized Exchange Coin Predicted to Increase 150% if Bitcoin Stays Solid