The crypto market is once again in shades of green, with Bitcoin It is altcoins enjoying significant rallies. Crypto Capo Crypto Analyst provided further optimism, suggesting that these tokens will still make more massive moves to the upside.
“The best is yet to come” for Bitcoin
Crypto Capo opined on an X (formerly Twitter) publish that the “best is yet to come” for Bitcoin and altcoins. He noted that Bitcoin is booming, having regained the $60,000 range as support. The crypto analyst added that altcoins also appear to have found their local bottom, meaning they are well-poised for major rallies.
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With Bitcoin also above $65,000, it seems like it’s only 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 leading cryptocurrency. The analyst added that the market should expect high prices when that happens.
As for how Bitcoin could move higher, 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 major 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 above $70,000 is believed to be where the real fun begins, as crypto analysts like to Michael van de Poppe I had already mentioned that bull run will continue once the flagship crypto is back above that price level. Crypto Kaleo Crypto Analyst also recently advised market participants not to get rattled. He stated that the market is still “much higher” and that a little more patience is needed before “the fun really begins.”
“Huge” Altcoin Season Is Shaping Up
Crypto Analyst Mkybull Crypto stated in a X post that a major altcoin season is brewing. He stated that this cycle could be similar to the explosive altcoin season recovery in 2017, as the current price action of altcoins shares similar price action to that period. Mikyull Crypto added that the fakeout made many believe that the altcoin season for this cycle had been canceled, but suggested that this is not the case, as something similar happened in 2016 post-halving cycle.
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![Don’t Be Shaken, Analyst Says Bitcoin and Altcoin Rally Is Just Beginning 1 altcoins bitcoin 2](https://thegurumedia.com/wp-content/uploads/2024/07/altcoins-bitcoin-2.png)
Interestingly, Capo stated that he is more bullish on altcoins. He alluded to the Ethereum ETFs in Spotlightwhich are expected to begin trading this week. Crypto analysts predict that these funds could trigger a major rally for Ethereum and altcoins by extension, which could help usher in altcoin season as it progresses. outperform Bitcoin.
Featured image created with Dall.E, chart from Tradingview.com