Analysts Predict Major Upsurge for Bitcoin and Altcoins
Several prominent cryptocurrency analysts have expressed bullish sentiments regarding Bitcoin and various altcoins. Analyst Bluntz has indicated a positive outlook for NEAR (NEAR) and PONKE, a low-cap meme coin on the Solana blockchain, suggesting that NEAR's recent breakout above the ascending channel on the four-hour chart is a bullish signal. Bluntz also forecasts a continued rise for PONKE, which is currently trading at $0.681, up 7.238% from its January low.
Bitcoin has also shown promising signs, breaking out of a downward trendline on its daily chart and surpassing the $65,000 resistance level. This move suggests a potential new trading range around $71,500. Rekt Capital's analysis implies that future dips in Bitcoin's price may be brief, presenting buying opportunities, while sustained support above $65,000 could lead to further gains. Increased institutional interest and adoption of Bitcoin as a hedge against inflation are contributing factors to its recent price resurgence, although regulatory uncertainties and market risks remain.
Crypto analyst Mags has also noted that Bitcoin's current market conditions are ripe for a significant bull run. Historical patterns following Bitcoin's halving events indicate stable prices with minimal downward movement, and the Relative Strength Index (RSI) suggests substantial growth potential. According to Mags, the RSI levels on the monthly chart have not yet reached extreme levels, indicating further room for upward movement.
In other cryptocurrency developments, Mina (MINA) has announced a significant upgrade to its mainnet, which has positively impacted its price. Additionally, Michaël van de Poppe predicts a potential surge in the Omni Network (OMNI) and a bullish trend for Bitcoin, potentially revisiting all-time highs around $73,000. He also expects the approval of spot ETH exchange-traded funds (ETFs) to boost Bitcoin's performance further. Analyst Benjamin Cowen emphasizes the importance of Bitcoin breaking through the 20-week Simple Moving Average (SMA), which historically has led to major rallies, suggesting strong upward momentum if this level is maintained.
