A well-known analyst, known for his accurate crypto predictions, suggests that Bitcoin (BTC) and altcoins are setting up for further gains.
The analyst, known as Capo, shared that BTC might see a minor decline before continuing its upward trend. He forecasts a brief dip, allowing Bitcoin to gain momentum for a rally past $70,000. Capo notes that the pullback to the $64,000-$65,000 range is a healthy move before the next bullish leg.
At the time of writing, Bitcoin is priced at $63,750, down over 2% in the last 24 hours.
Capo is also keeping a close eye on the altcoin market, specifically the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the top 10 coins and stablecoins.
He expects OTHERS to pull back to $220 billion before breaking through resistance at $240 billion. After a short correction, Capo anticipates the chart will surge beyond $270 billion. Currently, OTHERS stands at $228 billion.
As October approaches, Capo predicts a period of slight consolidation, seeing it as a time to prepare for potentially significant growth in the coming month. According to him, any upcoming dips should be viewed as buying opportunities.
Philippe Laffont, the billionaire behind Coatue Management, is beginning to question his stance on Bitcoin.
Personal finance author Robert Kiyosaki is urging investors to rethink their approach to money as digital assets reshape the economic landscape.
Crypto infrastructure firm Bit Digital is making a bold strategic pivot, abandoning Bitcoin mining entirely in favor of Ethereum staking and asset management.
Institutional interest in Bitcoin continues to surge as U.S.-based spot Bitcoin ETFs recorded their twelfth consecutive day of positive net inflows on Wednesday, pulling in nearly $548 million and pushing the total two-week haul to $3.9 billion.