The 5% increase in Bitcoin following the FED's 50 basis point interest rate cut has caused significant movement in the crypto market. Following these developments, famous crypto analyst Capo made important comments on whether the altcoin season has started. He made various evaluations on this subject, which investors are eagerly waiting for.
Altcoin Projects Increase Their Performance
Following the interest rate cut, a remarkable rise was observed in altcoins. Capo stated that many altcoins broke the downtrend and began to give bullish signals. Especially altcoins with low market caps began to offer investors high-earning opportunities. The analyst emphasized that these altcoins provided significant returns. However, Capo stated that the altcoin season has not yet fully begun. According to him, for altcoins to shine, the OTHERS index needs to exceed the $265 billion level; this index is currently at $205 billion, which shows that there is still some time for the altcoin season to begin.
OTHERS Index Gives Bullish Signals
Analyst Capo drew attention to the OTHERS index, which tracks the performance of altcoin projects. He stated that this index gave the first bullish signals and that this was a positive indicator for the altcoin market. If the index exceeds $ 265 billion, the second bullish approval will be received and the real altcoin season will begin. Capo admitted that previous bearish predictions were wrong. However, he stated that more opportunities await investors in the future and that big profits can be achieved with the right strategies. He predicts that especially low-value altcoin projects will attract the attention of investors during this period.
Bitcoin Surpasses $63,000: Is New Peak Near?$BTC
After FED Chairman Jerome Powell announced the interest rate cut, Bitcoin surpassed the $63,000 level. This rise has created excitement among investors, while analysts predict that Bitcoin could approach its all-time high. There is a possibility that Bitcoin could make a new peak by the end of the year. Alice Liu stated that Bitcoin could rise by 90% in the fourth quarter. If this happens, Bitcoin is likely to exceed $73,000, which could lead to a major rally in the entire crypto market. Analysts say that the new peak could also trigger an increase in other altcoins.
Will the US Elections Affect the Bitcoin and Altcoin Markets?
Analysts warn that the upcoming US elections could cause volatility in the crypto market. Former President Donald Trump’s open support for cryptocurrencies is considered a positive signal for the market. However, the status of Vice President Kamala Harris is not yet clear.
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