One cryptocurrency strategist believes the market is about to enter a bull market cycle similar to the parabolic rally witnessed in mid-2020, which he said will engulf seven altcoins.
Pseudonym analyst The Flow Horse says 200,900 followers on social media platform
The analyst said this period will be similar to the cryptocurrency’s extremely bullish price action in 2020, when Bitcoin rose from around $10,000 to $64,000 in less than a year. During the same period, the total market capitalization of altcoins (TOTAL3) surged nearly 1,000%, from approximately $73 billion to $793 billion.
Called flow horse,
“That’s right. We are following the same path now. This is why I have emphasized recently that the periods of euphoria we have experienced and any downturns must be understood on a smaller scale within a much larger trend and a more unimaginable set of conditions.”
Analysts say they are accumulating a handful of altcoins, including the underlying assets of smart contract platforms Solana (SOL), Near (NEAR), Sui (SUI), and Avalanche (AVAX), in anticipation of a massive market-wide rally.
“Some positions have been increased and some are completely new starting today.
- mina
- sui
- Avex
- brush
- RNDR
- WIF
- near.”
In the case of Bitcoin (BTC), traders think The current rise will not stop at $50,000.
“Bitcoin looks set to go much higher.
Watch carefully for the fastest horses, and don’t be a fool trying to outsmart what the market is already showing by looking for a third in a lagging play.”
As of this writing, Bitcoin is worth $50,032.
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