Crypto Cycle Peak? Analyst Outlines Nine Reasons Bitcoin and Altcoins Can Still Ignite ‘Strong Pumps’
A closely followed analyst believes that digital assets still have more room to run to the upside despite calls that crypto may be in the midst of carving a cycle top. Pseudonymous trader Altcoin Sherpa tells his 240,200 followers on the social media platform X that digital assets can still spark more rallies driven by the “best macro environment in years” along with a pro-crypto US government. He also highlights that Bitcoin is one strong candle away from printing a new all-time high just as nations and US states consider the possibility of establishing a strategic BTC reserve. From a technical Analysis perspective, Altcoin Sherpa says Bitcoin has been consolidating above $90,000 for months and is just beginning to flash signs of expansion. Meanwhile, he adds that altcoins, especially the old ones, have been witnessing time-based capitulation for years, suggesting they are likely to spark at least one run before the cycle is over. The analyst also n...