Dealer Says Altcoin That’s Exploded 1,700% This 12 months Seems Massively Bullish, Updates Outlook on Bitcoin

by Cryptospacey

A extensively adopted cryptocurrency analyst and dealer is expressing bullish sentiment on a top-50 altcoin amid a market correction.

The analyst pseudonymously generally known as Credible Crypto tells his 351,500 followers on the X social media platform that the native token of the proof of labor blockchain Kaspa (KAS) might go a lot increased after hitting new all-time highs in November.

“There’s actually just one altcoin that I’ve come throughout so far that has an impulsive construction that’s as clear/bullish as Bitcoin and that’s KAS.”

Supply: Credible Crypto/X

Kaspa opened the 12 months at $0.00539 and is buying and selling at $0.0995 at time of writing, a rise of 1,746%.

Turning to Bitcoin (BTC), the extensively adopted analyst says that it’s “relatively unlikely” that the flagship crypto asset might plunge to between $32,000 and $33,000.

In keeping with Credible Crypto, Bitcoin is demonstrating comparable value motion to earlier strikes it made previous to bullish breakouts. The pseudonymous crypto analyst cites the instance of Bitcoin failing to fall to between $11,000 and $12,000 earlier than an uptrend commenced and BTC went on to hit a brand new all-time excessive of just below $70,000 in 2020.

Credible Crypto additionally cites the case of Bitcoin avoiding a drop to between $4,000 and $5,000 and exploding to $14,000 in 2019.

“Once more the important thing right here being that our context in all three situations could be very similar- that’s that every of those occasions occurred in the course of a serious impulse- when bullish momentum is at its strongest and “apparent” value sweeps are most frequently front-run.

May this time be completely different? Certain. However odds are that we are going to see extra of the identical for my part.”

Supply: Credible Crypto/X

Bitcoin is buying and selling at $36,204 at time of writing.

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