A top crypto analyst said that Bitcoin (BTC) and altcoin markets are poised for a major comeback, based on the coming months.
In a recent update, Nicholas Merten told Data Dash’s 513,000 subscribers that he is increasingly convinced that a spring rally is imminent.
“I think we have a very good chance of seeing this spring rally that we’re talking about here. My beliefs are getting stronger in this regard.”
Merten thinks Bitcoin will soon return to $60,000, a price range not seen since November 2021. The analyst adds that the altcoin market, which has already gained momentum, will recover in turn.
“I really want to point out that as soon as April, if this trend happens, we could be back in this $60,000 range for Bitcoin. We may have a spring rally… But not just Bitcoin… It is unlikely that it will be just a Bitcoin rally.
I know people often think of Bitcoin (rally) first, then altcoin (rally), but if this market has proven anything, it’s that the previous trends we’ve found in the past are not the same this cycle. And we’ve seen more, just as we’ve seen in late 2020, early 2021 – Bitcoin and altcoins were gaining momentum.”
The Data Dash server also pointed out that certain altcoins are already heating up in the market, pointing out that institutions are buying altcoins at market value in anticipation of a rise.
“You have tons of different altcoins – that’s one of my biggest signals… We’re starting to see a lot of random altcoins in the market making 10-20% gains for multiple days. This is a really big sign that the market isn’t starting to passively accumulate or fill their orders again – smart money or institutions don’t wait to fill limit orders – they take market orders, they take their positions because it’s around the corner [kaçırma korkusunu] they feel. The market will start to rise.”
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.