Seasoned analyst BitcoinHabebe makes projections on the future development of the cryptocurrency market, expecting Bitcoin to hit $120k and spark a new altseason.
BitcoinHabebe's Predictions
Analyst BitcoinHabebe, who accurately predicted Bitcoin's bottom at $16k, believes the cryptocurrency has reached a local top after hitting $108k. BitcoinHabebe expects Bitcoin to start its second wave toward $120k+ after forming a bottom in the $62-68k range.
Altseason Expectations
BitcoinHabebe anticipates a full-blown altseason once BTC stabilizes in the suggested range and altcoins start to rally. Despite BTC's 630% increase, most alternative cryptocurrencies remain at low levels. It is expected that this cycle's bottom will coincide with the last cycle's top.
Contrarian Strategies and Forecasts
Maksim, the founder of Santiment, advises investors to examine charts of social volume and dominance to identify market bottoms. He warns against following key opinion leaders and suggests analyzing their statements to one's advantage. According to his forecasts, if Bitcoin retains $84,000 as support, it may spike to a new all-time high of $128,000. This aligns with BitcoinHabebe’s forecast that Bitcoin will eventually reach the $120k+ range.
In conclusion, analysts expect a continuation of the bullish trend in the cryptocurrency market, with Bitcoin potentially reaching new heights, thereby fostering the growth of altcoins. However, investors should carefully analyze data and avoid herd mentality.
