Bitcoin Stalls, Altcoins Set To Soar: Analyst Forecasts ‘Massive Bullish Wave’ Across Crypto Market
Crypto analyst and trader Alan Santana has forecasted a shift in the crypto market dynamics. In a post on TradingView, Santana declared the end of a major correction that bottomed out on August 5th.
Moreover, he anticipates a period of sideways movement for Bitcoin, while projecting a substantial rally for altcoins. Santana asserts that the crypto market has entered a new phase.
“The correction that produced a major low on the 5th of August across the cryptocurrency market is now over,” he stated. This marks a potential turning point for investors and traders.
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Bitcoin’s Sideways Trajectory
According to Santana, Bitcoin’s movement has become less predictable. He explains that trading bots and algorithms have been updated, changing market expectations.
“Bitcoin can now grow, or crash, or go sideways in the coming weeks and days,” Santana notes.
The analyst suggests that Bitcoin might experience a small bounce. However, this could result in a mid-term lower high, potentially followed by a new downward move. Santana advises investors to prepare for sideways movement in Bitcoin’s price.
Altcoins Set For Massive Bullish Wave
While Bitcoin stagnates, Santana believes altcoins are primed for gains. “The altcoins market is ready for a massive, massive bullish wave,” he declares. This would be the first major bullish trend for altcoins since late 2023.
Santana’s enthusiasm for altcoins is palpable. He urges investors to prepare, stating, “Get ready and prepare because we are going green! Crypto is going up!”
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Long-Term Bitcoin Outlook
Santana had predicted earlier that Bitcoin could trade around $40k by September this year. He adds, predicting that new highs for Bitcoin are unlikely to occur before 2025.
Despite Bitcoin’s potential, Santana remains bullish on altcoins, citing their stronger performance in the upcoming market cycle. His predictions suggest a shifting landscape where altcoins may outperform Bitcoin soon.
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