Analyst highlights next 30x opportunity as liquidity flows into altcoins
The post Analyst highlights next 30x opportunity as liquidity flows into altcoins appeared on BitcoinEthereumNews.com.
Analysts weighed in as Bitcoin (BTC) shows strong momentum, expecting liquidity will soon “start to flow into altcoins.” While some highlighted Bitcoin’s growth limitations, others have identified 30x-return opportunities with solid altcoins, warning against settling for 30% gains. Finbold has reported many analysts and trading experts anticipating an “altcoin season,” or “altseason,” with indicators validating this idea. These traders have been building positions on solid cryptocurrencies while using the Bitcoin Dominance Index (BTC.D) as a benchmark. Recently, another analyst shared a similar insight on Bitcoin’s movement and expected liquidity flow into altcoins. On November 8, Andrei Sobolev shared an insight looking at TradingView’s Crypto Total Market Cap Excluding BTC Index (TOTAL2). According to the analyst, TOTAL2 is about to conclude a corrective “Wave 4,” entering an impulsive “Wave 5” on altcoins. This post is a follow-up of a validated prediction from September 5, now eyeing a TOTAL2 $2 trillion capitalization. TOTAL2/USDT 1W Chart of crypto market capitalization excluding bitcoin. Also started to work out the idea with the completion of the correction in wave (iv) and growth in wave (v) on the accumulated liquidity.$USDT dominance will decrease, i.e. TOTAL2 chart will grow only due… https://t.co/gCPrKJ8noC pic.twitter.com/vqfwdIpGRa — andrei_sobolev_ (@andrei_sobolev_) November 8, 2024 Analyst’s 30x altcoin opportunity to lock in In a previous post, Sobolev doubled down on his theory that liquidity would move into altcoins, highlighting BTC.D as a leading indicator for “portfolio investors” to decide upon the best entry and exit levels. “Bitcoin is confidently breaking through ATH, soon liquidity will start to flow into altcoins. (…) The best benchmark for portfolio investors is BTC Dominance.” – Andrei Sobolev In particular, the trader cautioned investors looking to start taking profits at 30% gains from their altcoin positions. Sobolev explained that many investors who held a losing position in the…
Filed under: News - @ November 8, 2024 12:20 pm