RCO Finance Will Mimic Bitcoin’s Impending Rally
The post RCO Finance Will Mimic Bitcoin’s Impending Rally appeared on BitcoinEthereumNews.com.
A cryptocurrency expert has predicted that Bitcoin (BTC) will reclaim its all-time high if it remains above $45,000 in a year. Given that altcoins, including Ethereum (ETH), mirror BTC’s performance; market players focus on Ethereum altcoins like RCO Finance (RCOF) to imitate the expected Bitcoin rally. Let’s investigate the basis of this analyst’s claim and consider how RCO Finance might react to BTC’s direction. Expert Forecasts Bitcoin Will Reclaim ATH In A Year, But Condition Applies Ki Young Ju, founder of market intelligence platform CryptoQuant, has made a compelling case about when Bitcoin will likely reclaim its all-time high. In a tweet on August 6, Ki Young Ju opined that the premier cryptocurrency can recapture its all-time high in a year. However, it must maintain a level above $45,000. Ki Ju remains optimistic about the future of cryptocurrencies amid looming bearish indicators across the financial market after Bitcoin recoils from the August 4 dip. However, he cautioned the market to be vulnerable. Nevertheless, he believes Bitcoin could return in the next week or two, provided it remains afloat at current levels. Furthermore, Ki Young Ju added that delayed upside movement could give rise to a bear market. He compares the current market condition to the 2020 situation rather than late 2021. He said macroeconomic factors contributed immensely to the downturn, not fundamentals. For instance, old whales are handing their Bitcoin holdings to new whales, and institutional investors are more active than retailers. Yet, this shift could impact the market positively in the long run. Bitcoin continues to wallow around $55,196, down 1.48%. RCO Finance Will Mimic Bitcoin’s Impending Rally With Bitcoin poised for a rally soon, Ethereum altcoins like RCO Finance’s token RCOF are expected to follow suit. This coin has recently been an attention-grabber, especially among institutional investors. In…
Filed under: News - @ August 10, 2024 2:22 am