Altcoins

Bitcoin Price Hits $60K ! Cardano, Ethereum and Polkadot To Follow The Rally !

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Bitcoin Price hit the much-awaited $60,000 level for the first time since Apr.18 at 5:19 a.m. UTC on the popular exchange Bitstamp.

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Major cryptocurrencies are trading in the green today as Bitcoin and altcoins are both in action. Most tokens have recouped their weekly losses. BTC is above $59K, ETH is above $3,800 up 5.3% in the last 24 hours. XRP is set to test resistance at $1.15. However, ADA is slipping gains.

As Bitcoin (BTC) approaches its next resistance level, a well-known crypto strategist and trader predicts three altcoins to heat up.

Capo, a pseudonymous crypto researcher, assures his 177,400 Twitter followers that Bitcoin will shortly reach $60,000 before breaking through $100,000 in the months ahead.

In terms of the altcoin market, Capo has shared a chart showing Bitcoin’s dominance of the global crypto market cap is hitting a historic resistance level. A bit of a shift, according to the trader, is on the horizon.

ADA, ETH & DOT Bullish!

Capo believes Polkadot (DOT), Cardano (ADA), and Ethereum (ETH) have the most potential profits as the altcoin market heats up.

DOT, a cross-chain interoperability standard, is currently trading at $41.14, up 24.9 percent in the last week. ADA, a scalable decentralized platform, is trading at $2.18, almost unchanged from a week ago. According to CoinGecko, the open-source smart contract blockchain ETH has increased by 6.2 percent since last Thursday and is now worth $3836.

Capo goes on to describe why he thinks a new altcoin season is on the way in a lengthy post.

He says, Bitcoin is now confirming the bullish situation, and targets of $100k and higher are expected to be reached in the next months. This would create the ideal environment for people to feel at ease and begin speculating on altcoins.

He points out that on the BTC dominance chart (BTC.D)  a massive concealed bearish divergence is visible, and the green support is weakening. The alt season could end there, in my opinion, at the 2018 lows.

Van De Poppe has also made a bullish prediction for the crypto market as he says, the next 6 to 9 months is going to be monumental for many levels. Never seen before price rallies are on the way for the market he added.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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