Crypto strategists and traders are predicting that altcoins will soon shine.
According to historical precedent, pseudonymous analyst TechDev told his 520.200 followers in the social media platform X two macroeconomic indicators are bullish on altcoins.
A trader shared a chart that suggests altcoins explode when global liquidity surges or the business cycle bottoms.
The global liquidity is the total amount of cash flowing through the financial system of the entire world, whereas the business cycle represents the ups and downs of the economy over a period of time.
TechDev says:
It’s time. It’s time.”
According to the chart of the trader, it appears that altcoins sparked steep rallys in 2016 after a bottoming out business cycle and global liquidity breakthrough.
The trader believes that Bitcoin (BTC) will rise as well due to the alignment of two macro-factors in a bullish direction.
Are you ready?
The trader, zooming into BTC, predicts that Bitcoin’s price will reach a huge target in this cycle, after it breaks out of a cup and handle pattern. This is usually viewed as bullish continuation, showing that buyers have stepped in before the asset has dropped to its lowest price.
After all of the analysis it will be funny if this ends up being so simple …”
The trader seems to be predicting that BTC could reach as much as $5000 by 2026.
Bitcoin was worth $85165 at the time this article was written.
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As new information becomes available, this post Massive Altcoin rallies are imminent amid a surge in global liquidity according to TechDev analyst may change.
