A popular crypto trader thinks current market dynamics suggest Bitcoin (BTC) is still primed to surge toward higher prices.
The pseudonymous analyst known as Credible Crypto tells his 460,300 followers on the social media platform X that the ongoing altcoin capitulation is not characteristic of a market top.
“Market tops tend to occur in an environment in which alts are popping off left and right, everyone is ‘making it,’ and euphoria is in the air.
Right now everyone seems to be scared shitless because their alts aren’t doing much while BTC sits comfortable above $100,000 in what looks to be a very healthy consolidation structure.
Keep calm, wait for some signs of strength on alts to add to spot positions on the way up or DCA into HTF support zones on the way down if you’re prepared to hold through some drawdown, getting overly emotional at times like this is probs the worst thing you can do.”
BTC is trading at $104,035 at time of writing and is up nearly 2.5% in the past 24 hours. The top-ranked crypto asset by market cap has been trading sideways in the past seven days but is up more than 12.5% in the past month.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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