Jason Pizzino and Bluntz express optimism about the potential capital flow towards altcoins.
Anticipating the recovery of Bitcoin (BTC), which was hovering around $43.3 thousand (+3.3%) on Tuesday afternoon (30), whales accumulated over $3 billion in BTC in recent days. This could be a sign of an upcoming bull cycle following Bitcoin's halving in April, where rewards for new mined cryptocurrency blocks are halved. However, the potential rise of the benchmark could be amplified by altcoins, a phenomenon known as altseason.
This is the assessment of cryptocurrency expert Jason Pizzino, who used YouTube this week to highlight the possible arrival of the "best opportunity to acquire Bitcoin and altcoins." On the other hand, the pseudonymous Bluntz used the letter X to indicate the possible start of two altcoins in the five ascending Elliot waves (1,2,3,4,5): SOL at $520 and MOVR.
Pizzino did not rule out a more pronounced corrective move for BTC before the halving, possibly reaching up to $30 thousand (-30%). According to him, this would be the ideal buying price, justifying the caution suggested by the expert regarding the current market movement.
Comparing BTC with previous periods before the halving, he emphasized that "the last time this happened, we also had a turning point when we were about three months away from the halving. So, we had the peak in February โ maybe we'll have a January peak this time โ a month and a half retracement, and then the market started to decline again due to the halving."
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