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New Statements from il Capo After the Rally: “Altcoins Entering ‘Impulsive Bull Wave’”

New Statements from il Capo After the Rally: “Altcoins Entering ‘Impulsive Bull Wave’”

BitcoinsistemiBitcoinsistemi2024/09/18 11:15
By:Mete Demiralp

Cryptocurrency analyst il Capo of Crypto argued in his statement that altcoins may be entering a new bull wave.

Perhaps the most well-known analyst in the cryptocurrency world, il Capo of Crypto, shared his latest views following the increases that occurred today.

According to the analyst, a significant milestone has been reached, with the Bitcoin (BTC) price surpassing $60,000 today. il Capo argued that reaching the liquidity zone above the previous all-time high is now more likely.

On the other hand, the analyst stated that BTC dominance is at a major resistance point on the long-term chart and claimed that the bullish power in the dominance is decreasing. The analyst drew attention to the altcoin dominance chart, namely OTHERS.D, to support this claim. As a result of this situation, the analyst thinks that although BTC is used as a reference for the direction of the market, the main focus should be on altcoins.

Related News How Will Bitcoin React After The FED's Interest Rate Decision Tomorrow? Here is Expert Prediction

Finally, il Capo claimed in his statement that the cryptocurrency market has entered a significant impulsive bull wave and argued that altcoins will perform better during this period.

The analyst, who until recently held a largely bearish view of Bitcoin and the overall cryptocurrency market, changed his views a few months ago.

*This is not investment advice.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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