Cryptocurrency investors are witnessing a resurgence in the market after challenging years. However, despite billions entering the market with ETF approvals, altcoins have yet to experience a consistent upward trend. Two analysts have shared their predictions for FET and OSMO Coin, anticipating a significant event that will influence all altcoins.
FET and OSMO Predictions
Popular cryptocurrency analyst Efloud previously released key levels for FET Coin, expressing a bullish outlook. He stated that in the short term, the support level of $1.37 could remain strong, and the rally may continue to $3.07 after reaching $1.81 and $2.42. "I might consider buying if it comes to the support area or flips the red box," Efloud noted. Analyst Captain Faibik has also re-released his OSMO Coin chart, noting that successful predictions are a source of pride. OSMO has experienced a nearly 30% increase and, if it does not return to the downward channel, it could rise to $1.55. On September 13, he mentioned: "OSMO is on the verge of breaking free from a downward channel, preparing for a potential 2-3x bull rally. Keep a close eye on this!" Ultimately, the analyst’s initial predictions for OSMO Coin have proven accurate, and now the focus shifts to realizing the targeted 2-3x increase.
Altcoins and FTX Refunds
As of the writing of this article, Bitcoin (BTC) has surpassed $63,200 again, reversing the downward trend initiated by MicroStrategy (MSTR). However, $65,000 has yet to be convincingly reclaimed. One of the largest upcoming events for cryptocurrency investors is the massive cash refunds by the FTX exchange. Analyst Crypto Rover reported that $16 billion cash will be distributed to creditors within two weeks. This cash influx from FTX could signify billions of dollars entering the market as stablecoins. If the anticipated scenario unfolds, and a significant portion of altcoins remains at low levels while buyers reinvest, substantial price increases could occur. This situation is akin to what happened with Mt Gox and Germany’s simultaneous BTC sales, but in this case, cash will flow into the markets instead of leaving.
Conclusion
In the near future, the cryptocurrency market may witness significant changes due to upcoming refunds and potential investments in altcoins. Analysts' predictions indicate the possibility of growth, especially for FET and OSMO Coin. Investors remain optimistic about the future, anticipating new opportunities to increase their assets.
Thus, the altcoin market has the potential for substantial growth in the near future, supported by positive analyst forecasts and significant cash inflows. Attentive investors may be rewarded for their vigilance and readiness to respond to market changes.
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