The crypto market is once again showing signs of life, as both Bitcoin and altcoins are experiencing significant rallies. Prominent crypto analyst Capo of Crypto has added to the optimism by suggesting that there are still more substantial moves to the upside on the horizon. Capo of Crypto recently expressed his belief that the “best is yet to come” for Bitcoin and altcoins, citing the fact that Bitcoin has successfully reclaimed the $60,000 range as support. Additionally, altcoins appear to have found their local bottom, positioning them for potential massive rallies in the near future.
Capo highlighted that Bitcoin’s resurgence above $65,000 indicates that it is only a matter of time before the cryptocurrency reclaims the $70,000 range. The analyst previously mentioned that surpassing the $65,000 level would serve as a bullish confirmation and pave the way for higher prices. Looking ahead, Capo outlined that the next target for Bitcoin would be the liquidity zone between $74,000 and $76,000, which would signify a new all-time high for the flagship cryptocurrency.
Other crypto analysts, such as Rekt Capital and Crypto Kaleo, share a similar sentiment regarding Bitcoin’s potential for further gains. Rekt Capital suggested that a successful retest of the $65,000 resistance level could propel Bitcoin back above $70,000, signaling the start of an even more significant uptrend. Similarly, Crypto Kaleo advised investors to remain patient, as the market is poised to surge higher in the coming days.
In addition to Bitcoin, the altcoin market is also set for a potential boom, according to analyst Mkybull Crypto. Drawing parallels to the explosive altcoin season of 2017, Mkybull Crypto noted that the current price action of altcoins mirrors that period, hinting at the possibility of a similar rally. Despite initial doubts due to a fakeout, Mkybull Crypto reassured that this cycle could still witness a substantial altcoin season, akin to what transpired post-halving in 2016.
Interestingly, Capo of Crypto expressed particular bullishness towards altcoins, citing the upcoming introduction of Spot Ethereum ETFs as a significant development. The impending debut of these ETFs is anticipated to bring renewed attention and investment into the altcoin market, potentially fueling a new wave of growth across various altcoins.
The crypto market is brimming with positivity and momentum, with both Bitcoin and altcoins poised for substantial gains in the near future. As analysts and investors alike express confidence in the market’s upward trajectory, it is clear that exciting times lie ahead for cryptocurrency enthusiasts worldwide.
