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Home»ALTCOIN NEWS»The next crypto rally will be a real breakthrough, says trader who predicted a 2022 crash
ALTCOIN NEWS

The next crypto rally will be a real breakthrough, says trader who predicted a 2022 crash

By Crypto FlexsAugust 26, 20242 Mins Read
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The next crypto rally will be a real breakthrough, says trader who predicted a 2022 crash
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A trader who accurately predicted a crypto crash in late 2022 says the next uptrend in digital assets will be a “real” breakout that will send markets to new highs.

A trader with the pseudonym Capo told his 101,000 Telegram subscribers that the recent Bitcoin (BTC) rally was a “test pump” and that a real rally is coming.

“That was a pump to clear the liquid from above. The next pump will be the real breakthrough.”

Source: Capo/Telegram

Capo said that if there is a clear break of the $62,000 level, with BTC currently trading at $64,201, there is a high chance that it will continue into the $70,000 range.

“BTC – Simply put

– First bullish confirmation: Full recovery of $62,000 = $69,000-$70,000 may be possible.

– Second bullish confirmation: High probability of full recovery of $69,000-$70,000 = Main target ($75,000-$80,000)

In the meantime, ignore the short-term pullbacks…”

Looking at altcoins, Capo shares the OTHERS chart, which tracks the market cap of all crypto assets except the top 10 digital assets and stablecoins, and aims to measure altcoin strength.

Traders divide the OTHERS market cycle into four main phases, including the “pre-altseason” consisting of a downtrend and recovery, and the “real altseason” consisting of short corrections and upward parabolic moves.

According to Capo’s chart, the altcoin may be in the final stretch of a major rally.

Source: Capo/Telegram

At the time of writing, OTHERS was valued at $213 billion.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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