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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.
How Much is Bitcoin in TL?
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.
An analyst named Capo shared a visual on Telegram, explaining that the recent Bitcoin (BTC) jump was a “test rise” and that the real rally is coming.
This was a pump to clear liquidity from above. The next pump should be the real breakout.
Capo states that a clear 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…
In addition to the analyst’s statements, when examining the BTC/USDT pair, the price was seen finding buyers at the 2,168,000 TL level.
Analyst’s Altcoin Commentary
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.
The analyst examined the potential process in different time frames. He analyzed the market cycle on the OTHERS side in four main stages: a downward movement and recovery forming a “pre-altseason,” followed by a shorter price correction and an upward parabolic movement forming a “real altseason.”
Looking at the graph shared by Capo (above), altcoins may be approaching the final phase of major rallies. As of the time of writing, the market value of OTHERS had reached a total of $213 billion.
