As a seasoned researcher and long-term observer of the crypto market, I have witnessed numerous bull runs and bear markets over the years. The recent green wave in the crypto market, with Bitcoin and altcoins experiencing significant rallies, has piqued my interest once again.
The cryptocurrency market is once again displaying various hues of green. Bitcoin and alternative coins are experiencing notable gains. Crypto analyst Capo of Crypto has added to the positive sentiment, predicting that these digital assets will continue to surge upward.
“The Best Is Yet To Come” For Bitcoin
In a recent post on X (previously Twitter), the head of Capo at Crypto expressed optimism about Bitcoin and altcoins. He pointed out that Bitcoin has regained the $60,000 level as a support base. Furthermore, he observed that altcoins appear to have hit their bottom in their current local market, implying they are poised for significant price surges upward.
Bitcoin’s price surpassing $65,000 again implies that it is only a question of time before it regains the $70,000 mark. Capo stated earlier that retaking the $65,000 threshold would serve as the next bullish sign for Bitcoin, with potentially higher prices to follow.
Regarding the potential increase in Bitcoin’s price, Capo identified a significant milestone around the $74,000 to $76,000 range. Reaching this zone would result in a new all-time high (ATH) for Bitcoin as the leading cryptocurrency surpassed its previous record. Similarly, Rekt Capital expressed his agreement with Capo, positing that Bitcoin’s successful retest of the $65,000 resistance level would propel it past $70,000 once more.
Bitcoin regaining ground above $70,000 is seen as an exciting development by crypto analysts, including Michael van de Poppe and Crypto Kaleo. They anticipate that the bull market will persist once Bitcoin surpasses this threshold. Crypto Kaleo further urged investors not to panic sell, emphasizing that the market still has significant upward momentum and that the “real fun” is yet to come with a bit more waiting required.
“Huge” Altcoin Season Is Brewing
Crypto analyst Mkybull predicted in a recent Reddit post that an extensive altcoin rally is imminent. Drawing parallels to the explosive altcoin market surge in 2017, he explained that the current altcoin price action exhibits striking similarities to that period. Despite some believing that the altcoin season for this cycle had ended following a false signal, Mkybull insisted that this may not be true, citing evidence from the 2016 post-halving cycle.
It’s intriguing that Capo expressed strong optimism towards altcoins. He hinted at the upcoming Spot Ethereum ETFs, slated to debut this week. Crypto analysts anticipate that these ETFs could ignite a significant surge for Ethereum and altcoins collectively. Consequently, this upward trend might mark the onset of the altcoin boom as altcoins potentially surpass Bitcoin’s performance.
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2024-07-22 20:10