Is Bitcoin Headed for $200K? Altcoins Ready for a Massive Lift
- Bitcoins upward momentum is intact, with $120,000 within reach and support now between $80,000$90,000.
- Altcoins like Ethereum, XRP, and Cardano are following Bitcoins lead, experiencing significant price gains.
- Santana forecasts a powerful altcoin rally ahead, with BTC possibly surging past $200,000 in the near future.
Bitcoins weekly chart remains positive, with experts expecting the price to rise to $120,000.In recent X post, Alan Santana explained that the price of Bitcoin ended the previous week with a long lower shadow indicating continuity of the upward movement. This weeks candle is green which indicates that the cryptocurrency is still likely to continue with the upward trend and possibly breaking new records.
Bitcoin has already gone past previous milestones and $120,000 is considered achievable at this point. Other support has subbed up and is now ranged from $80,000 to $90,000, which gives a good base for further appreciation. According to the current predictions, as long as BTC is above the $100,000 mark all the other cryptocurrencies are expected to follow the positive trend.
Bitcoin Drives Altcoin Gains
The strength of Bitcoin is already being seen across the other cryptocurrencies, as altcoins are seeing significant gains. Some of the altcoins including Ethereum, XRP, and Cardano are experiencing tremendous price appreciation. As BTC continues to climb, the altcoin market is also expected to climb, with many tokens expected to rise several levels higher. For instance, Compound that spiked from $40 to $120 is predicted to rise even after some retracements.
Another example of the altcoins rising and holding higher levels is XRP which recently spiked from $0.50 to $2.50. Other important altcoins, including CARDANO, DOGE and ETHEREUM, have also shifted to higher price zones, and it is therefore unlikely that they would return to previous lows.
A majority of the altcoins will surge in the coming months, with many expected to rise two to three tiers. Experts expect this wave to be one of the most powerful since the bull market of 2021, which means that the whole crypto market may be entering the new phase of growth.
Bitcoin Eyes $200,000 Surge
Nonetheless, the market outlook appears to be bullish with one exception. Some of the confidence may be eroded if BTC is to close below $97,260 on a weekly basis. If the BTC continues with this trend, the next resistance level is $122,521 and there are predictions that the Trump Pump may push Bitcoin to $200,000 soon. As of writing, BTC is trading at $99,296, down by 0.20% over the past day.
Source: TradingView
The cryptocurrency market is now moving to the next phase; therefore, according to the analysts, the investors should buy the rumor, the facts, and the news. The future of finance is emerging and cryptocurrency is the vanguard of the new digital finance frontier.
Read more: https://www.tronweekly.com/is-bitcoin-headed-for-200k-altcoins-ready-for/
Text source: TronWeekly
