King crypto money unit exceeded $ 58,000 again at the time of writing, but it needs to stay here permanently. We have written for a while that analysts are expecting a new wave of rise with closings above $ 57,000. BTC is struggling for this and has not fallen below $ 57,000 on the Binance exchange in the last 24 hours. So what are the predictions?
Cryptocurrencies Are Rising
With the BTC price exceeding $ 58,000, altcoins have also started to recover. However, it is too early to rejoice because markets are usually volatile in both directions before the Fed. An analyst named Carl, after a 200-day consolidation period, Bitcoin (BTC) $58,156 He thinks the price is preparing for a 200 percent rally. Of course, what leads him to this thought is historical data.
“History may soon repeat itself! BTC was last up 200%+ in March – October 2023 after 200+ days of consolidation.”
Trader Tardigrade is also among those who expect a sharp rise. The last chart he shared on September 12 also points to a rapid recovery in the markets. The analyst, who discussed the current situation in the three-day chart, gave a bullish signal for Bitcoin bullish divergence and warned to be ready.
ETHBTC Chart Comment
Performance of altcoins Ethereum (ETH) 
$2,360 It depends on the chart. If ETH can remain strong against the largest cryptocurrency, altcoins will also start to rise. This situation BTCD triggering a decline while strengthening the capital inflow to altcoins. The analyst known by the nickname Cryptobullet wrote the following about the current situation;
“ETH/BTC Monthly chart.
So we see the same pattern repeating itself over and over again. And we are currently in the final stages of the $ETH/BTC bear market – Support Break (Capitulation) & Accumulation. Looks like it’s time to convert some BTC to Ether.”
As you can see in the graph ETHBTC It triggered a reversal after support was violated, similar to previous cycles on the chart. It is not known if history will repeat itself, but if ETH climbs to 0.11BTC, this would mean a new ATH.
Bitcoin price At the time of writing, it is at $58,389, while ETH continues to stall at $2,349.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
