Coin Bureau Projects Bitcoin Rally That Could Fuel Up Altcoins To Rise
According to Coin Bureau, Bitcoin (BTC) could see ‘massive pump’ in the coming weeks, which could trigger altcoin rallies.
Bitcoin (BTC)
In a recent video update, the pseudonymous host of Coin Bureau crypto YouTube channel shared with the nearly 2 million subscribers that BTC charts are flashing signs of a potential rally.
“Turning to the charts, we can see that BTC continues to bounce around between the ascending triangle pattern… Ascending triangle patterns have a tendency to break to the upside – that means we could see a massive BTC pump in the coming weeks, which would take the rest of the crypto market on a wild ride.”
Ethereum Classic (ETC)
Regarding Ethereum Classic (ETC) – Ethereum’s hard fork, the analyst is looking for a reason why ETC recently jumped 50% from $25.40 a week ago to its current price of $38.56.
“Though I wasn’t able to pinpoint an origin for ETC’s pump, my best guess is all the progress being made on Ethereum’s transition from proof-of-work to proof-of-stake. It’s likely that many Ethereum miners will opt to start mining ETC for as long as it’s profitable – the alternative is just to throw out all their expensive mining equipment.
Some investors could be hedging the risk of a botched merge with Ethereum’s most direct competitor… Even though ETC’s current pump barely registers on its long-term price chart, it seems to have broken through a significant zone of price resistance and could continue to rally into the $50 range.”
Avalanche (AVAX)
Looking into Avalanche (AVAX), the crypto analyst believes that the recent surge in AVAX price is partially due to the hype for an upcoming Avalanche conference in Barcelona.
“Last but not least, we have Avalanche. AVAX appears to be rallying because of the upcoming Avalanche summit in Barcelona. The event is expected to attract lots of heavyweights in the crypto space and I’m sure we’ll get some exciting announcements as well. In contrast with most other cryptos, AVAX has held up surprisingly well despite the recent downturn – but it seems to be struggling to overcome all the resistance in the low-$90 range.
That said, I see a cup and handle forming on the daily and, if my observations are accurate, we could see AVAX pump as high as $110 in the not so distant future.”
