Bitcoin 
$78,084 price attempts to reach a new daily peak at $68,460, but selling pressure persists. The $70,000 mark is not too far from the current level; however, selling from short-term traders complicates the situation. What insights does the trend line from 2015 provide? What will be the price of Bitcoin?
Ethereum Bull Analysis
An analyst known by the nickname Moustache reports a retest of support dating back to 2015. In the monthly chart shared, he emphasizes that following tests of the trend line in 2015 and 2019, a new cyclical peak has been observed in the BTC pair.
“ETH/BTC touches a trend line existing since 2015. While many have lost hope in altcoins, this is actually the best time to get excited. If things proceed as they did in the last two cycles, Altcoins should see greater gains against $BTC from now on.”
Bitcoin and Altcoins
Another analyst, Michael Poppe, shared a yearly chart. Today’s chart reminds investors of the 4-year halving cycle. The analyst states that the exact timing in November or December is not as critical, as markets are progressing toward their cyclical peaks.
“Is it time for markets to move vertically? If that’s the question, and you believe in the 4-year halving, then we are on the brink. Whether in November or December, the result remains the same: Bitcoin price will move between $300,000 and $500,000.”
Altcoin Sherpa highlights two popular altcoins. He advises investors to buy FET and TAO Coin during dips and wait to sell at the right time. The analyst believes that FET Coin is expected to move above $1.45 after hitting a low and that its all-time high will be redefined.
“Some of these AI coins remain calm, and I don’t expect them to make sharp movements soon. Still, I think they will continue to trim and form some sort of bottom. The best approach is to buy FET and TAO at the right time and wait to sell.”
The growing excitement for artificial intelligence globally continues to fuel the market. This situation provides mid- and long-term growth and demand support for altcoins in the AI sector.
