The crypto market is again all shades of green, with Bitcoin and altcoins having fun with 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 return” 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 appear to have found their local bottom, meaning they’re well-primed for enormous rallies to the upside.
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With Bitcoin also back above $65,000, it appears that evidently it’s only a matter of when and never if before the flagship crypto reclaims the $70,000 range. Capo had previously mentioned that reclaiming the $65,000 level can be the following bullish confirmation for the flagship crypto. The analyst added that the market should expect high prices once that happens.
Source: X
As to how Bitcoin could rise, Capo stated that the fundamental goal can be the liquidity zone between $74,000 and $76,000. Bitcoin rising to those price levels would mark a latest all-time high (ATH) for the flagship crypto. Crypto analyst Rekt Capital shared the same 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 true fun begins, as crypto analysts like Michael van de Poppe had previously mentioned that the bull run will proceed once the flagship crypto is back above this price level. Crypto analyst Crypto Kaleo had also recently advised market participants to not get shaken out. He stated that the market remains to be heading “way higher” and that a little bit more patience is required before the “fun really starts.”
“Huge” Altcoin Season Is Brewing
Crypto analyst Mkybull Crypto stated in an X post that an enormous altcoin season is brewing. He claimed that this cycle could be much like the explosive altcoin season rally in 2017, as altcoins’ current price motion shares the same price motion to that period. Mikyull Crypto added that the fakeout made many imagine the altcoin season for this cycle had been written off but suggested that isn’t the case, as something similar happened within the 2016 post-halving cycle.
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Source: X
Interstingly, Capo stated that he’s most bullish on altcoins. He alluded to the Spot Ethereum ETFs, that are expected to start trading this week. Crypto analysts predict that these funds could spark a large rally for Ethereum and altcoins, by extension, which could help usher within the altcoin season as they outperform Bitcoin.
BTC price holds $67,000 | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com