It seems that the majority of crypto investors are turning to altcoins rather than Bitcoin. Investors who preferred these products due to their profit margin faced huge losses in 2022. When we look at the movements of the leading cryptocurrency Bitcoin (BTC) in recent weeks, it can be seen that it is bullish. BTC, which wants to experience more rise, has also enabled altcoins to recover a little bit. Although altcoins are starting to recover, Bitcoin still has not started a clear uptrend.
“If this happens, the value of altcoins could triple”
“If we can get acceptance back into our HTF range here, don’t be surprised if we something along these lines from $BTC re-testing that Upper Limit level. Seem like we are seeing some decent strength currently.”
If Bitcoin (BTC) acts according to the scenario shared by an anonymous analyst, Castillo Trading, on his Twitter account, it can make altcoins experience very serious rises. According to the successful analyst, with the bankruptcy of the leading cryptocurrency FTX, it fell below the $ 18 thousand support to accelerate the capitulation phase. Bitcoin, which has completely cleared the liquidity by completing the spring under this support, can gradually target 25 thousand dollars in the coming days. Bitcoin’s 50 percent rise up to $25,000 may even enable altcoins to triple their value. Although there are $14,000 and $12,000 dangers ahead of BTC, the leading cryptocurrency is in the future. It can exhibit attacks towards $25,000 levels.