It is wondered whether the altcoin market will continue to rise as the Bitcoin (BTC) price reaches a new record at $ 63,287 on the Binance stock exchange.
While experts who comment on the market warn to be careful against sudden increases in altcoin prices, some analysts argue that the real rise has not yet taken place.
Rekt Capital, a veteran analyst who shared a cryptocurrency assessment on Twitter on April 13, said that “the real altcoin bull market has just begun.”
The analyst in his message he wrote as follows:
“The macro altcoin bull market has just begun. Don’t let the retreats in altcoin prices make you think the opposite.”
Weak resistances are destined to be broken
The analyst, who argued that short-term pullbacks in altcoin prices should be considered natural, the Litecoin (LTC) price, which recently returned from the $ 262 resistance, showed an example.
“LTC was rejected at $ 262 just a few days ago. […] This resistance could not stand against the uptrend and the price came back to that level. Weak resistances are for breaking. “
Apart from declaring his trust in the altcoin market, the experienced name arguing that the increase in the Bitcoin price will continue, and that the “bear market”, which has started to be pronounced especially in social media, is not yet time. told.
“Bitcoin bear market will come eventually, but today is not that day.”
As reported by Cointelegraph, Bloomberg Intelligence Strategist Mike McGlone also thinks that the BTC price will increase rapidly. Comparing Bitcoin to a “caged bull”, the strategist stated that he expects a move higher than $ 60,000.
Again, as reported, the price of Bitcoin has exceeded 500,000 TL for the first time in history.