A widely recognized analyst in the cryptocurrency space has expressed expectations for a significant short-term price increase for HYPE, the utility token of the decentralized finance platform Hyperliquid. He shared with his 245,300 followers on social media platform X that HYPE is illustrating a bullish formation in daily charts.
Analyst’s Investment Assessment
The analyst forecasts a potential increase of up to 150% for the HYPE token. Addressing investors, he noted that current market conditions and a stable Bitcoin $96,858 scenario could contribute to a substantial price rise for the HYPE token. He suggested that HYPE might reach a value of $50.
Market Expectations
According to the analyst, the four-year cryptocurrency cycle has concluded, suggesting that altcoins will undergo a different price pattern. In the past, after a two-year accumulation phase, prices had surged. However, he now anticipates sudden upward and downward fluctuations.
“On April 30, I opened a modest HYPE perpetual position; my holding duration is undecided. Still, I believe it is among the top utility coins and projects, gradually appreciating. I wouldn’t be surprised to see it reach $50, provided BTC and trading conditions remain sound.”
At the time of reporting, HYPE was trading at $20.10, having appreciated 6.3% in the past 24 hours. The analyst highlighted that the four-year cycle model rooted in Bitcoin halving no longer seems valid, predicting volatile movements in altcoins instead.
“We will no longer observe four-year cycles as before. I predict that within the next three to six months, altcoins may experience declines of 50% to 90%, followed by multiple-fold increases.”
The statements emphasized the prevailing market dynamics and Bitcoin’s overall stable trend as crucial determinants for many altcoins, including HYPE. The importance of carefully evaluating stock conditions when making critical investment decisions was also underscored.
The analyst’s insights capture investors’ attention, accompanied by market condition predictions. The forecast of potential sudden market movements is being closely monitored by investors.
