Pay attention to these 5 elements in the altcoin bull: The key to high profits!

1- The rise of $BTC is the determining factor in the altcoin rally

“We need to see an increase in Bitcoin in order to follow the altcoin rally. In particular, staying above $ 65,000 is a must. BTC may target the top if it stays above this level. The rally movement in cryptocurrencies will also strengthen as the leader of cryptocurrencies approaches the top.”

2- Altcoin market value is on the verge of breaking

“TOTAL3, known as the altcoin market value, has formed its first peak since June of last year. This development creates expectations of a rally in altcoins. TOTAL3, which is currently at the bottom of the falling channel, may ignite cryptocurrencies with the breakout.”

3- The importance of macroeconomic data is increasing

“The crypto market reacted upwards to the US Federal Reserve’s 50 basis point cut in interest rates. On the other hand, China, which provides approximately 1 trillion yuan ($141.7 billion) of liquidity to its economy, is also at the forefront. Both factors increase liquidity and give a positive signal for Bitcoin and the altcoin market.”

4- Bitcoin lags behind S&P

“If Bitcoin catches up with the current momentum in stocks, we may see a rise towards $81,000. This increase will pave the way for a major cryptocurrency rally. In particular, the upward momentum in S&P could cause a boom in Bitcoin. The S&P 500 is currently trading 9 percent above its annual peak. $BTC is still behind, 11 percent below its annual peak ($74,000).”

5- Chinese economic calendar

“Another is China’s efforts to revive its economy. China seems to be injecting a significant amount of money into the market. This development could bring an increase in Bitcoin. The People’s Bank of China is preparing to launch a significant wave of liquidity into global markets.”

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