A popular crypto analyst, known as TechDev, is forecasting a huge rally for altcoins (cryptocurrencies other than Bitcoin). He believes the market is primed for a massive upswing unlike anything seen before.
Technical Indicators Point to Big Gains
TechDev shared a chart showing the total market cap of altcoins (excluding Bitcoin and stablecoins). Using a technical indicator called Bollinger Bands, he highlighted an extremely low volatility period. This, he argues, suggests a significant price increase is imminent. He stated, “Altcoin compression is at a record high. Expansion will be unlike anything the market has seen.”
Bitcoin’s Potential Also High
TechDev isn’t just bullish on altcoins. He also believes Bitcoin is far from its peak, urging investors to reconsider their predictions for its top price. He said, “Re-evaluate your top calls.”
Copper-to-Gold Ratio Adds to the Bullish Outlook
Further supporting his prediction, TechDev points to the copper-to-gold ratio. This ratio often reflects investor sentiment. He observes a pattern similar to those seen before previous Bitcoin bull runs (in 2016 and 2020), suggesting a significant Bitcoin price surge is likely. He simply stated, “The steep part lies ahead.”
Current Market Conditions
At the time of writing, Bitcoin is trading at $107,165, showing a 4% increase over the past week.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions.
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