Although BTC price has entered 2022, making highs and lows and now is on US$43,000, analysts remain optimistic about a new raly in the value of cryptocurrency.
So one of these analysts who remain optimistic about the BTC is the trader known as Cantering Clark who claims that BTC is forming a pattern reminiscent of July 2021, before its big bang that led crypto asset to renew its historic high and stay close to $70,000.
So the expert claims that BTC’s recent price movement looks like it was trading close to $30,000 before more than doubling in price in less than three months.
“Feels the same.”
High potential altcoins
Thus, for the analyst, just as happened in July last year with the price of BTC, altcoins should follow the rise of BTC and surpass the main cryptocurrency in the market in appreciation.
Therefore, he believes that one of the cryptocurrencies that will follow this move is the competitor of the ETH, Fantom (FTM).
So he says that FTM’s price action looks even stronger now that it’s at last month’s control point, which is the level at which the largest amounts of volume have been traded.
“A lot of confluence with this being likely to remain much higher. Transition in everyday life taking place. Currently returning to VWAP [volume weighted average price] from the previous month and to the poc [point of control]. FTM looks solid,” he says.
Thus, Cantering Clark also said that in addition to the FTM he has his eye on the Near which should have big gains and in which he says he is willing to place buy orders almost 30% below the current price of US$17.00 and then wait a meteoric rise.
Analyst known as Capo says he expects a strong upward movement of Terra (LUNA), which has exploded more than 13,000% in value since January 2021,
So the trader sees LUNA consolidating around the $75 range before making another price jump.