Bitcoin
$69,587price dropped to $55,000, quickly erasing gains from recent data. We are accustomed to declines with the opening of US markets, and we highlighted the potential for a drop within a few hours in our pre-market report. And so it happened.
Will Altcoins Rise?
So, what are the crypto predictions of Capo, Rager, and two other popular analysts? Different analysts have different views on Bitcoin, and while consolidation continues at low levels, a new loss series to $53,000 wouldn’t be surprising. Some analyst evaluations this week highlighted this possibility.
Crypto Capo, one of the star analysts of 2022, has been sharing bullish expectations for several quarters. In his latest post, he mentioned that at least the $58,500 level needs to be reclaimed to show that the bulls are in the game. He also shared the following chart for altcoins:
“Altcoins are starting to show strength against BTC.”
The analyst known as El Crypto Prof also believes that while the bottom hasn’t come yet, it is near. He highlights Bitcoin market dominance (BTCD) and thinks the buying opportunity is approaching.
“BTCD is now close to a point where the downtrend in altcoins is not worth it. I think great opportunities are approaching us here. The next quarter will be extremely bullish.”
Crypto Predictions from Two Analysts
In his latest assessment, Rager argues that the current drop before the FOMC (Fed meeting) is good. Like the second analyst, he believes that the more weakness there is, the better the last quarter will be, and he wrote:
“I maintained my view that dumping before the FOMC is good. Let September melt, stocks and crypto fall. The more the drop, the better, a beautiful, prosperous last quarter and 2025 we will have. Despite short-term pain, the rise is approaching.”
The fourth analyst, Altcoin Sherpa, shared his predictions for AAVE Coin in his recently published analysis. His assessment could be useful for those looking for opportunities in altcoins.
“$120 seems like a good entry point for AAVE. It fluctuates between $118 and $135; it will likely consolidate for a while. To decide whether this Defi 1.0 trade will continue… For now, I will just watch and observe.”
