Don’t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting
2024年7月23日 - 2:00AM
NEWSBTC
The crypto market is again all shades of green, with Bitcoin and
altcoins enjoying significant rallies. Crypto analyst Capo of
Crypto has provided further optimism, suggesting that these tokens
will still make more massive moves to the upside. “The Best Is Yet
To Come” For Bitcoin Capo of Crypto opined in an X (formerly
Twitter) post that the “best is yet to come” for Bitcoin and
altcoins. He noted that Bitcoin is pumping, having reclaimed the
$60,000 range as support. The crypto analyst added that altcoins
also seem to have found their local bottom, meaning they are
well-primed for massive rallies to the upside. Related
Reading: Crypto Market Rebounds From Lows, But Why Are Cardano
Holders Suffering Losses? With Bitcoin also back above $65,000, it
seems that it is just a matter of when and not if before the
flagship crypto reclaims the $70,000 range. Capo had previously
mentioned that reclaiming the $65,000 level would be the next
bullish confirmation for the flagship crypto. The analyst added
that the market should expect high prices once that happens.
As to how Bitcoin could rise, Capo stated that the main target
would be the liquidity zone between $74,000 and $76,000. Bitcoin
rising to these price levels would mark a new all-time high (ATH)
for the flagship crypto. Crypto analyst Rekt Capital shared a
similar sentiment with Capo, suggesting that Bitcoin’s successful
retest of the $65,000 resistance level would send it back above
$70,000. Bitcoin rising back above $70,000 is believed to be
where the real fun begins, as crypto analysts like Michael van de
Poppe had previously mentioned that the bull run will continue once
the flagship crypto is back above this price level. Crypto analyst
Crypto Kaleo had also recently advised market participants not to
get shaken out. He stated that the market is still heading “way
higher” and that a little more patience is needed before the “fun
really starts.” “Huge” Altcoin Season Is Brewing Crypto analyst
Mkybull Crypto stated in an X post that a huge altcoin season is
brewing. He claimed that this cycle might be similar to the
explosive altcoin season rally in 2017, as altcoins’ current price
action shares a similar price action to that period. Mikyull Crypto
added that the fakeout made many believe the altcoin season for
this cycle had been written off but suggested that isn’t the case,
as something similar happened in the 2016 post-halving cycle.
Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs,
Confirms Launch Date Interstingly, Capo stated that he is most
bullish on altcoins. He alluded to the Spot Ethereum ETFs, which
are expected to begin trading this week. Crypto analysts predict
that these funds could spark a massive rally for Ethereum and
altcoins, by extension, which could help usher in the altcoin
season as they outperform Bitcoin. Featured image created
with Dall.E, chart from Tradingview.com
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