Bitcoin Dip Paves Way for ‘Parabolic’ Moves in Altcoins, Says Popular Analyst – Here’s His Outlook
The crypto markets are experiencing a strong correction today, with the overall market down 8% while Bitcoin has dropped 7% to trade around $63,000. This represents a significant pullback from Bitcoin’s all-time high of around $73,000 set earlier this month.
However, according to CryptoAmsterdam, a popular crypto analyst with over 100,000 followers on X, this correction presents an opportunity for investors to “buy the dip” in altcoins.
In a recent X thread, CryptoAmsterdam stated that these “bull market flushes” are normal and expected in a cryptocurrency bull run. He shared a chart showing that in the first half of a bull market, Bitcoin typically leads the way, while altcoins catch up in the second half with parabolic moves.
CryptoAmsterdam outlined two potential scenarios playing out:
- Scenario 1: Bitcoin finds support at or near its current range high, while altcoins bounce between the 0.25 and 0.5 range levels after many experienced 20-40% declines.
- Scenario 2: Bitcoin dips into the 0.75 range, and altcoins dip into the 0.25 zone, offering a final “capitulation flush” across the board.
While it’s impossible to predict which scenario will unfold, the analyst believes now is a good time to start gradually scaling into favorite altcoin positions. He emphasized that in a bull market, it’s not about timing the absolute bottom but rather having exposure to the market.
CryptoAmsterdam advised looking at which sectors have outperformed recently, such as AI, DeFi, and meme coins, as they will likely continue to lead. He suggested zooming out to higher time frame charts and market support zones, spreading out buy orders as prices decline rather than trying to pinpoint exact levels.
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Show more +Lastly, the analyst recommended using spot positions rather than leverage and cautioned that these periods distinguish the “winners” who buy the dips from those who will lose by chasing green weekly candles.
Overall, while Bitcoin has pulled back sharply, CryptoAmsterdam and many other analysts view the current climate as a prime opportunity to accumulate altcoins before the next potential parabolic move in the second half of this cryptocurrency bull cycle.
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