Top Analyst Says Things Could Get Crazy for Altcoins Once Key Resistance Zone Is Broken – But There’s a Catch
A widely followed analyst is turning bullish on altcoins as the total cryptocurrency market capitalization hovers above $3 trillion.
The analyst pseudonymously known as Pentoshi tells his 811,300 followers on the social media platform X that once TOTAL3 (the total crypto market cap excluding Bitcoin and Ethereum) rises above approximately $790 billion, things could “get crazy.”
According to the pseudonymous analyst, TOTAL3 will, however, experience corrections on the way up.
“Where we’re going son, you don’t need charts…
…Will be looking to add on dips. Price doesn’t move in a straight line. There will be shakeouts, bull traps, bear traps etc along the way. It’s all opportunity.”
TOTAL3 is at $741 billion at time of writing.
The widely followed analyst says that Bitcoin (BTC) is unlikely to experience steep corrections the same way it did in previous cycles, unlike altcoins.
“Past bull markets, and you can confirm this yourself but BTC alone had eight pullbacks greater than 20% which all ended in V reversals in a single year. Do I expect that this time? No. For alts? Yes.
It’s why you should always have some cash for stink bids because it’s some of the best money you’ll make.
It’s inevitable that these days come and wipe out the over-leveraged people.”
On how frequently the steep corrections altcoins could experience over the course of the bull market, Pentoshi says,
“In short, big single-day dips of greater than 15% – 20%, typically offer quick rewards and it will happen every month or so at least once.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Top Analyst Says Things Could Get Crazy for Altcoins Once Key Resistance Zone Is Broken – But There’s a Catch appeared first on The Daily Hodl.
