A well-known crypto analyst who’s known for calling market bottoms is predicting a dip for altcoins before they rally.
Altcoins Expected to Dip Before Rallying
The analyst, who goes by the name Bluntz on social media, is watching the TOTAL3 chart, which tracks the total market cap of all cryptocurrencies except Bitcoin, Ethereum, and stablecoins. He believes this chart suggests altcoins are poised for a dip before gaining momentum.
Bluntz, who uses the Elliott Wave theory to analyze markets, thinks TOTAL3 will drop to $530 billion before rallying to $620 billion. He’s basing this prediction on the chart’s pattern, which he believes indicates a “C-wave” correction is coming.
Bitcoin Also Expected to Dip
Bluntz also believes Bitcoin is due for a correction, predicting it will dip to around $55,000 before rallying to $65,000. He’s linking this prediction to the expected dip in the TOTAL3 chart.
Disclaimer: This is just one analyst’s opinion. Always do your own research before making any investment decisions.
/p>
