Will The Crypto Market Plunge Again Prior To The Alt Season?
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- Crypto traders get a sigh of relief as coins show signs of recovery from the lost gains.
- Popular crypto analyst enlightens the price movements of the star crypto and hints at the entry points for BTC and LTC price.
The crypto street is currently showing signs of improvements, which has brought a sigh of relief for traders and investors in the space. The market cap of the industry is hovering around $2,763,733,614,843 with slight gains of 0.5%. The dominance of BTC is currently at 41.4%. Traders are now eagerly waiting for the “Bull Run 4.0”, as they have accumulated the dips.
As the market attempts to stabilize, popular crypto analyst enlightens the price movements of BTC and gives entry points for BTC and LTC. Traders and investors are keen on entry points and future trends of the market, as the alt season is around the horizon.
Traders Need To Lookout For These Zones
Popular crypto analyst mentions the breakdown of BTC price by about 15%, from its healthy mid $60,000 levels. Which is a part of the standard market corrections of 20-30%. He expects another bottom around the start of December post a peak. Which could be around the block. Netizens are contemplating a much healthy run with the Bull Run 4.0.
Analyst mentions that the USD pair has been crucial for cryptos, which could be a possible cause for the recent crash. If the dollar consolidates for some time, it might give a push to BTC to retest some levels. He expects, a bounce-back to take place from current levels.
The star crypto at press time is trading at $60,548.96, with negative gains of 0.1%. While the market cap of the asset is around $1,142,912,700,525. The trading volume for 24-hours is at about $41,022,306,593. The coin needs to break above the current levels to get going towards the resistance of $63,000.
On the flip side, it might dump towards lower levels of $50,000 and higher levels of $40,000. If It loses out on steam at mid $50,000. The major support levels remain crucial entry points for Bitcoin.
Litecoin at press time is trading at $232.63 losing out 1.3% in its value. The market cap of the asset is around $16,049,663,587. While the trade volumes for around the clock are at $2,934,276,318. The analyst mentions support levels at $230, and at $200. Which could be potential entry points for higher returns.
Collectively, the crypto street might experience another plunge as the space is witnessing lengthening cycles. Netizens are anticipating a bigger Bull Run than the previous one. We can expect the market to recover from lost gains in a couple of days, provided the situation favors. The analyst is expecting the biggest altseason of a lifetime in Q1 of 2022.