A popular crypto strategist and trader predicts that the three altcoins will start to heat up as Bitcoin (BTC) confidently approaches the next level of resistance.
Known in the crypto community as Capo, the analyst has 177,400 Twitter followers. of bitcoin He says he expects it to hit $60,000 soon before smashing $100,000 in the coming months. At the time of writing, BTC is trading at $59,065.
Also speaking in terms of the altcoin market, Capo shared a chart showing that Bitcoin’s dominance in the overall crypto market is approaching a historic resistance level. The trader thinks there will be some change on the horizon and Bitcoin dominance will reach lower levels once BTC.D breaks this resistance level.
“HAHA. Some people are arrogant because BTC.D is up 5%. Good luck.”
As the overall altcoin market heats up, Capo is the altcoin with the biggest potential gains. Polkadot (DOT) naming it. DOT in terms of potential gain Cardano (ADA) and Ethereum (ETH) is watching.
“DOT/BTC pair is mega bullish. The ADA/BTC pair is very bullish. The ETH/BTC pair is on the rise. Here still BTC.D [Bitcoin hakimiyeti] If you want to be optimistic about it, that’s up to you. I am totally into altcoin. ”
According to CoinGecko data, at the time of writing, cross-chain interoperability protocol DOT; It is trading at $40.33, up 20 percent from last week. Scalable decentralized platform ISLAND, is trading at $2.18, which is almost the same price as a week ago. Open source smart contract blockchain ETH on the other hand, it’s up over 5 percent since last Friday and is now trading at $3,791.
In a lengthy Twitter thread, Capo explains why he believes a new altcoin season is on the way:
“Bitcoin is currently confirming its bullish scenario and targets of $100,000 and higher are likely to be met in the coming months. This will create the ideal environment for people to feel comfortable and start speculating on altcoins…
BTC dominance chart (BTC.D) – major hidden bearish trend is visible and green support is weakening. In my opinion, 2018 lows (36.50 percent) will be needed to end the alt season.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.