Scott Matherson
The crypto market is again all shades of green, with Bitcoin and altcoins enjoying 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 come” 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 seem to have found their local bottom, meaning they are well-primed for massive rallies to the upside.
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With Bitcoin also back above $65,000, it seems that it is just 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 flagship crypto. The analyst added that the market should expect high prices once that happens.
As to how Bitcoin could rise, 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 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 rising back above $70,000 is believed to be where the real fun begins, as crypto analysts like Michael van de Poppe had previously mentioned that the bull run will continue once the flagship crypto is back above this price level. Crypto analyst Crypto Kaleo had also recently advised market participants not to get shaken out. He stated that the market is still heading “way higher” and that a little more patience is needed before the “fun really starts.”
“Huge” Altcoin Season Is Brewing
Crypto analyst Mkybull Crypto stated in an X post that a huge altcoin season is brewing. He claimed that this cycle might be similar to the explosive altcoin season rally in 2017, as altcoins’ current price action shares a similar price action to that period. Mikyull Crypto added that the fakeout made many believe the altcoin season for this cycle had been written off but suggested that isn’t the case, as something similar happened in the 2016 post-halving cycle.
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Interstingly, Capo stated that he is most bullish on altcoins. He alluded to the Spot Ethereum ETFs, which 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 the altcoin season as they outperform Bitcoin.
Featured image created with Dall.E, chart from Tradingview.com
