A Top Analyst Predicts Massive Rallies for Altcoins
A top analyst, known as Pentoshi, who accurately predicted the end of the 2021 Bitcoin bull run, believes that altcoins are poised for significant rallies. Pentoshi is closely monitoring the TOTAL3 chart, which represents the entire altcoin market excluding Bitcoin and Ethereum. He predicts that TOTAL3 could increase by nearly 40% after surpassing its resistance level at $444 billion and establishing it as support.
Targeting $640.64 Billion After Bitcoin Halving
Pentoshi expects TOTAL3 to reach a target of $640.64 billion following the upcoming Bitcoin halving in April. Historically, halvings have coincided with bull markets in the broader crypto space. Currently, TOTAL3 is trading at $462 billion.
Uncertainty Surrounding Bitcoin Price Action
Regarding Bitcoin, Pentoshi is unsure about its short-term price action due to pending decisions from the U.S. Securities and Exchange Commission (SEC) regarding Bitcoin exchange-traded fund (ETF) applications. However, he believes that Bitcoin will continue to trend upward in the long term, as fiat currencies and central banks are programmed to work that way. At present, Bitcoin is valued at $43,740.
Hot Take: Altcoins Set for Major Rallies
A top analyst predicts that altcoins are gearing up for significant rallies in the near future. By closely monitoring the TOTAL3 chart, which represents the altcoin market excluding Bitcoin and Ethereum, this analyst anticipates a potential 40% increase in TOTAL3’s value after overcoming its resistance level. Additionally, following the Bitcoin halving in April, the analyst expects TOTAL3 to reach a target of $640.64 billion. While there may be uncertainty surrounding Bitcoin’s short-term price action, the analyst believes that the long-term trend will continue to be upward.
By
By
By
By
By