Bitcoin breaks past $66,000 price target before sinking back to $65,000 range.
Analysts expect a massive Bitcoin crash which should trigger altseason.
Altcoin Bitcoin Cash (BCH) is expected to pump by over 900% during this bull run.
The price of Bitcoin (BTC) broke through the $66,000 resistance target only to sink back down to the lower $65,000 levels. Presently, analysts are debating over what is next for Bitcoin price, will the price rebound again and climb up to set a new ATH or will the price sink further triggering the long-awaited arrival of altseason?
Bitcoin Dominance Set to Crash?
According to one analyst Bitcoin’s inability to soar higher than the $66,000 price level or its inability to rise closer to its previous ATH points to a possible likelihood of the Bitcoin dominance crashing hard in the near future. The analyst shares a chart as seen below to support his hypothesis.
https://twitter.com/Eljaboom/status/1845832713774772484
This chart signifies a possible fall in the price of Bitcoin (BTC) to the $56,000 price range. While this is an unfortunate outcome for those holding BTC and expecting to see massive gains, it is a positive sign for altcoin holders. As many analysts expect, the crash of BTC price would signal the start of altseason.
Bitcoin Cash (BCH) COuld Pump Over 900%
In detail, the coming altseason is expected to usher a new age in all-time highs (ATHs) for many altcoins in the crypto market. Therefore, the upcoming altseason will likely send altcoin prices to setting new ATHs. Adding to this bullish expectations are many other analyst who believe altseason is imminent.
https://x.com/JavonTM1/status/1845827251599745274
In fact, one analyst notices a huge inverse head and shoulders pattern forming for altcoins meaning a parabolic pump is imminent. One altcoin already fueling this expectation is Bitcoin Cash (BCH). According to the post above the altcoin is in a continuing bull pattern that could bring over 900% gains in BCH price.
The post Over 900% BCH Pump Expected This Altseason as Analysts Debate Bitcoin’s Next Move, Pump or Dump? appeared first on Crypto News Land.
