Altcoins
Don’t Let That Discourage You, Analyst Says Bitcoin and Altcoin Rally Is Just Beginning
The cryptocurrency market is once again in all shades of green, with Bitcoin and altcoins benefiting from significant rallies. Crypto Analyst Capo de Crypto brought additional optimism, suggesting that these tokens will continue to make more massive moves higher.
“The best is yet to come” for Bitcoin
Crypto Capo gave his opinion on an X (formerly Twitter) job that the “best is yet to come” for Bitcoin and altcoins. He noted that Bitcoin is booming, having reclaimed the $60,000 range as support. The crypto analyst added that altcoins also appear to have found their local bottom, meaning they are well-prepared for massive rallies to the upside.
With Bitcoin also back above $65,000, it seems like it’s only a matter of when and not if before the flagship cryptocurrency reclaims the market lead. $70,000 range. Capo had previously mentioned that the rally to the $65,000 level would be the next bullish confirmation for the flagship cryptocurrency. The analyst added that the market should expect high prices once this happens.
As for how Bitcoin could rise, Capo said 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’s return above $70,000 is supposed to be the starting point for real fun, crypto analysts believe Michael van de Poppe had already mentioned that the bullfight will continue once the flagship cryptocurrency is back above this price level. Crypto Analyst Crypto Kaleo had also recently advised market participants not to be shaken. declared that the market continues to progress “very high” and that a little more patience will be needed before “the fun really begins”.
“Huge” Altcoin Season Is Coming
Crypto Analyst Mkybull Crypto declared in a X post that a huge altcoin season is coming. He claimed that this cycle could be similar to the explosion altcoin season rally in 2017, as the current altcoin price action shares similar price action to that period. Mikyull Crypto added that the fakeout led many to believe that the altcoin season for this cycle had been canceled, but suggested that this was not the case, as something similar happened in the Post-halving cycle 2016.
It is interesting to note that Capo declared that he is the most bullish on altcoins. He hinted at the Ethereum ETFs under the microscopewhich 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 altcoin season as they surpass Bitcoin.
Featured image created with Dall.E, chart by Tradingview.com