New Statements from il Capo After the Rally: “Altcoins Entering ‘Impulsive Bull Wave’”
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.
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.
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.
You may also like
Hyperliquid launches native token HYPE
Ethena and Securitize propose USDtb for Spark’s $1b Tokenization Grand Prix
Standard Chartered Analysts Predict Stablecoins Will Represent 10 Percent of US Economy in the Future!
Analysts at Standard Chartered and Zodia Markets predict that stablecoin adoption will see significant growth, potentially representing 10% of US M2 transactions in the future.
Is $100,000 the Limit in the Bitcoin Rally or Will It Continue? Here’s a Clear Opinion for the Top
While the Bitcoin price has reached the $100,000 limit, the questioning of what goes beyond this level has begun. Here are the details.