Popular crypto trader Capo is still optimistic about the short-term future of Bitcoin (BTC) while foreseeing an inevitable altcoin rally.
The analyst tells his 227,400 Twitter followers that the first quarter of 2022 “should be bullish” for the top crypto asset by market cap.
“Still above the key support ($40k-42k) and the new bullish trend is intact.
Hidden bullish divergences were formed during the November correction.”
BTC is trading at $46,788.39 at time of writing, down more than 3% in the past 24 hours. The top crypto asset by market cap is also down nearly 18% from where it was priced a week ago.
Capo also thinks altcoins are on the verge of a big breakout.
Altcoins fractal zoomed in. Many of them are starting the w3, so this would make a lot of sense. https://t.co/VtohjlBTAY pic.twitter.com/fSDQszMKMG
— il Capo Of $NOIA (@CryptoCapo_) December 28, 2021
The trader recently predicted that ADA, the native asset for smart contract platform Cardano, could surpass its previous all-time high (ATH) as part of a broader altcoin surge.
Since hitting its ATH of around $3.10 in early September, ADA has endured a severe price correction of more than 57%.
The seventh-ranked crypto asset by market cap is currently trading at $1.31, down more than 7% in the past 24 hours and more than 15% in the last month.
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The post Crypto Analyst Says Bitcoin Bull Run Still Intact, Altcoin Rally Imminent appeared first on The Daily Hodl.