Bitcoin Sets New ATH, Signaling Bullish Altcoin Activity
Bitcoin has recently reached a new all-time high (ATH), sending positive signals for the altcoin market. As Bitcoin continues to show bullish behavior, altcoins are also expected to experience significant upward movement. The recent ATH for Bitcoin, reaching $106,488.25, has analysts forecasting a continued upward trajectory, with some predicting that the pioneer cryptocurrency could hit $110,000 soon.
Fantom (FTM): A High-Potential Asset in This Bull Cycle
Among the altcoins showing strong potential is Fantom (FTM), which has emerged as a highly potent asset in this bullish cycle. Currently, FTM is up by over 12%, with the price nearing a cycle top target of $15. This marks a significant rise from its current price of $1.38. Analysts are particularly optimistic about FTM’s future, with expectations that it could see a major surge in the coming months.
Bitcoin’s Bullish Sideways Movement Fuels Altcoin Rally
As Bitcoin continues its bullish sideways movement towards the $110,000 mark, many analysts believe that altcoins are gearing up for a major rally. With Bitcoin breaking new ATHs, altcoins are mirroring this momentum and completing crucial technical patterns, such as the Golden Cross, which signals potential for a significant price surge.
Altcoins Print Bullish Golden Cross Pattern
Altcoins are showing clear bullish signs, as many of them have completed the Golden Cross pattern—a technical indicator that was followed by significant altcoin rallies during the 2020 bull cycle. This pattern is generating excitement for a potential altcoin surge similar to the previous cycle’s gains.
Bitcoin’s Ongoing Price Discovery and Market Expectations
Although Bitcoin’s new ATHs are creating a bullish environment, analysts caution that healthy corrections and dips could occur. Some analysts predict that BTC may experience a dip to the $90,000 range before resuming its upward movement. However, one analyst believes that Bitcoin could reach a price target of $125,000 by January or February, further boosting the confidence in the overall market.
Fantom’s Price Target for This Bull Cycle
Fantom (FTM) stands out as one of the most promising altcoins this bull cycle. Analysts predict that FTM could hit a cycle top target of $15. This target is based on the recent bullish momentum seen in the price chart, with FTM currently experiencing a 12% price increase in the last 24 hours. As Bitcoin continues to drive the market forward, Fantom’s strong performance and promising price potential make it a standout asset for investors.
- Bitcoin’s ATH: Reached $106,488.25, signaling ongoing bullish activity.
- Fantom’s Surge: FTM up by over 12%, preparing to hit a $15 cycle top target.
- Altcoin Rally: Altcoins are showing bullish signs, completing Golden Cross patterns.
- Bitcoin’s Price Discovery: Analysts predict continued BTC ATHs with potential corrections.
- Fantom’s Potential: FTM is poised for significant growth, with a price target of $15 this cycle.
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