- Bitcoin Market Fluctuations
- Price Changes in Turkish Lira
- Analysts' Commentary on Altcoins
While price fluctuations in cryptocurrencies continue, Bitcoin rose to $65,000 yesterday. Following this, the BTC price fell back to $64,000 and eventually dropped to $63,000. During all these events, analysts continued to make optimistic statements.
Bitcoin Market Fluctuations
An analyst who correctly predicted the massive cryptocurrency drop at the end of 2022 stated that the previous upward movement in crypto assets was only a test rise. The next rise will be the 'real' breakout that takes the markets to new highs.
Price Changes in Turkish Lira
Capo shared a visual on Telegram, explaining that the recent Bitcoin (BTC) jump was a 'test rise' and that the real rally is coming. According to his statements, a clean break of the $62,000 level—which BTC currently finds buyers around the $63,000 region—will likely trigger a rise towards the $70,000 level.
BTC – simply put
- First rise confirmation: A clean reclaim of $62,000 = $69,000-$70,000 likely.
- Second rise confirmation: A clean reclaim of $69,000-$70,000 = main target ($75,000-$80,000) likely.
Meanwhile, ignore short-term pullbacks...Capo
Analysts' Commentary on Altcoins
After Bitcoin, Capo turned his attention to altcoins and started analyzing them. He made significant statements on an OTHERS chart, which tracks the market value of all cryptocurrencies except the top 10 crypto assets and stable coins, aiming to measure the strength of altcoins. Examining different time frames, the analyst highlighted four main stages of the market cycle on the OTHERS side: a downward movement and recovery forming a 'pre-altseason,' followed by a shorter price correction and an upward parabolic movement forming a 'real altseason.' As of the time of writing, the market value of OTHERS had reached a total of $213 billion.
Price fluctuations in Bitcoin continue, but analysts remain optimistic, predicting significant rises in the future. Altcoins may also be approaching their critical growth phases, opening new opportunities in the market.
