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COINTURK NEWS > Cryptocurrency News > Market Experts Predict Bitcoin’s Future Movement and Altcoin Performance
Cryptocurrency News

Market Experts Predict Bitcoin’s Future Movement and Altcoin Performance

In Brief

  • Bitcoin remains above $63,000, creating a positive outlook for traders.

  • Analysts predict Bitcoin will often rise with altcoins in this cycle.

  • Significant selling by whales does not prevent Bitcoin's price stability.

İlayda Peker
İlayda Peker 8 months ago
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Bitcoin (BTC) $104,377 price has been holding above $63,000 for an extended period, creating a positive outlook for cryptocurrency traders. Multiple developments favor traders, and historical data supports these expectations. This article reviews the current predictions of four prominent cryptocurrency analysts, with one in particular suggesting that this cycle will defy previous norms.

Contents
Bullish Predictions for CryptocurrencyBitcoin and Cryptocurrency Forecasts

Bullish Predictions for Cryptocurrency

Traditionally, after halving events, BTC breaks its all-time high within a specific timeframe, subsequently allowing altcoins to gain momentum. Although BTC peaked early in this cycle, it did not experience the same scale of growth as previous all-time highs. Analyst Trader XO expressed in a recent market assessment that this cycle will disrupt the norm, stating, “I do not agree with the idea that Bitcoin will run first and altcoins will follow. This cycle has shown a shift with both Bitcoin and altcoins rising together around the end of October 2023 (post-QRA). If Bitcoin rallies and maintains its momentum, I believe certain altcoins will rise in tandem.” He emphasized that these dynamics have significantly shifted.

Doctor Magic, an analyst, shared a graphic indicating that he expects altcoins to perform better than Bitcoin during this upward trend.

Bitcoin and Cryptocurrency Forecasts

Doctor Magic serves as the fifth and wildcard analyst; now let’s examine the predictions of the other three cryptocurrency commentators. Daan Crypto Trades is signaling an upcoming market breakout. He focuses on the liquidity situation in the Binance order book, noting substantial selling pressure at a critical zone, which supports the narrative of a potential breakout at $65,000. If the bulls can surpass this level, rapid peaks may follow.

Ali Martinez highlights significant selling by Bitcoin whales over the past 24 hours, amounting to $1.28 billion. Despite this, whales have been unable to keep BTC below $63,000. While this situation is positive for those anticipating an increase, it also confirms how challenging the selling liquidity at $65,000 could be.

Finally, analyst Crypto Tony draws attention to a tipping point in the total market cap of altcoins. He mentions that due to the response and rebound shown in the chart, he has increased his purchases and appears confident in the upward trend.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 25 September, 2024 - 7:48 pm 25 September, 2024 - 7:48 pm
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