Coins/Tokens with low market caps tend to pump aggressively, but they come with a higher level of risk. On the other hand, high market cap Coins/Tokens carry less risk, which is why they pump slowly and steadily. As a result, in the market, you will often see low market cap coins pumping 40-100% or more first.
#BTC Analysis: 📈 According to the previous analysis, BTC has pumped from its support area and is currently trading near the trend-line resistance zone. If BTC breaks through the trend-line resistance with high volume and holds it as support, there is a potential for BTC to reach $73k. Otherwise, if BTC breaks the trend-line resistance but fails to establish it as support, we may see a dump in BTC.
🏹My Personal Opinion: This month and the upcoming few months are very crucial for the market. For the altcoin season to start, BTC needs to either pump or stabilize in a certain area, which would lead to a decrease in BTC dominance and start the altcoin pump. This was discussed in detail in the previous altcoin analysis. A few long-term signals have already hit, and, Inshallah, you’ll see all the signals hit in the coming days.
The 2024 US election will be held in November. There is a possibility that Trump will emerge victorious in this election. Trump is very positive about the crypto market, so if Trump wins, we could see a positive movement in the crypto market. 📈