Altcoin Markets Gearing Up for Massive Rallies Amid Healthy Uptrend, According to Top Analyst – Here’s His Timeline
A prime analyst who nailed the tip of the 2021 Bitcoin (BTC) bull run believes that the stage is being set for altcoins to witness huge rallies.
Pseudonymous analyst Pentoshi tells his 737,800 followers on the social media platform X that he’s retaining an in depth watch on the TOTAL3 chart which is used as a proxy for your complete altcoin market because it tracks the market capitalization of all crypto belongings excluding Bitcoin and Ethereum (ETH).
Pentoshi predicts that TOTAL3 might rise by practically 40% from present ranges after flipping its resistance at $444 billion into assist.
“So far so good, and we might have a period of dipping below or consolidating for a time around the previous range highs. So far, this has been a pretty healthy trend, with higher highs and higher lows. We’ve caught some great moves. Would love to see it go toward the upper range.”
According to the crypto strategist, he thinks that TOTAL3 will attain his goal of $640.64 billion after the Bitcoin halving which is slated for April.
The halving, which cuts BTC miners’ rewards in half, has traditionally coincided with bull runs within the broader crypto markets.
At time of writing, TOTAL3 is buying and selling at $462 billion.
Taking a look at Bitcoin, Pentoshi says he’s unsure in regards to the potential value motion of the crypto king within the coming days because the market awaits the choice of the U.S. Securities and Change Fee (SEC) on a number of BTC exchange-traded fund (ETF) functions. In the long run although, the analyst predicts that BTC will proceed trending upward.
“I’ve purposely not made any BTC post-ETF price predictions because I simply don’t know. Anyone who claims to know is full of sh*t, short term at least. Long term, I believe we go up and to the right. It’s programmed with how fiat and central banks work.”
At time of writing, Bitcoin is price $43,740.
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