#bitcoin #eth #altseason #bullrun #weekly I just want to share with you few insights on the current crypto trends.
1. Bitcoin has done a 3x from its lowest in 2 years made an all time high of 73k and pulled back to 49k which is almost a 33% drop from ath and bounced back to 67k to fall again to 59800.
for all the crypto enthusiasts in market. this is in itself a normal bullish cycle.. pull back from ath is always happening and retest but only to a 30% drop and reversing it is actually great and current trend of 62k at time of writing possibly to retest 67k is something coinciding with real trend. mind you that the year started with bitcoin in 42-43k. so all the investments in the year in bitcoin is sitting at capital gains currently. you should be scared only if bitcoin cannot hold 43k or in and around 40k fall which i think is highly unlikely because the big players that braced the market this year black rock fidelity etc wont be in it if they werent sure that that the cycle would give them gains. so a bitcoin close of below 40k is highly unlikely by the end of year.
so overall bitcoin is still very bullish to approach to end of year and we could see new ath and newer higher highs soon enough within this q4 and even start of 2025.
2. moving to alts, bitcoin has clearly outperformed all alts apart from usual hype and dumb coins and ofcourse solana which actually did close to 30x on binance from previous low to $8.
eth has still underperformed failing to hit ath and may look like its losing its edge. but is it? we can see eth hit new aths in a matter of months preferabbly over 5k. because ethereum usually follows after bitcoin. given the price range of bitcoin its actually a surprise that eth is still trading under 2.5k eth will see highs in 3.8k so fast in coming weeks and setting a new ath would see crypto market officially green for atleast 3 months.
3. what does all this literally mean.. ? your alt bags are in for substancial gains when btc sets new ath eth follows for its ath and alts will do a 10x -30x. hold your bags. we are in for a ride.