According to a top analyst, altcoin markets are preparing for massive rallies amid a healthy uptrend – here is his timeline
A top analyst who noted the end of the 2021 Bitcoin (BTC) bull run believes the stage is set for altcoins to experience massive rallies.
The pseudonymous analyst Pentoshi tells his 737,800 followers on the social media platform).
Pentoshi predicts that TOTAL3 could rise nearly 40% from current levels after its resistance at $444 billion turns into support.
“So far so good and we could see a period where we break below previous range highs or consolidate for a while. So far this has been a fairly healthy trend with higher highs and higher lows. We captured some great movement. I would like to see it go to the higher end.”
Source: Pentoshi/X
According to the crypto strategist, he expects TOTAL3 to reach its target of $640.64 billion after the Bitcoin halving scheduled for April.
The halving, which cuts BTC miners' rewards in half, has historically coincided with bull runs in the broader crypto markets.
At the time of writing, TOTAL3 is trading at $462 billion.
Looking at Bitcoin, Pentoshi says he is uncertain about the crypto king's possible price movement in the coming days as the market awaits the US Securities and Exchange Commission's (SEC) decision on several BTC exchange-traded fund (ETF) applications ) is waiting. However, in the long term, the analyst predicts that the BTC trend will continue to rise.
“I intentionally didn’t make BTC Post ETF price predictions because I just don't know. Anyone who claims to know is full of shit, at least in the short term. In the long term, I believe we are going up and to the right. It’s programmed into how fiat and central banks work.”
At the time of writing, Bitcoin is worth $43,740.
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