- An analyst anticipates that BTC hitting $36K could be a good thing for altcoins.
- At press time, BTC was trading at $24,446.85 after its price surged 0.90%.
- Symmetrical triangle formed on BTC’s daily chart suggests a breakout may be on the horizon.
Cryptocurrency trader and analyst CryptoTony shared in a post on X (formerly Twitter) that he believes Bitcoin’s (BTC) price is very likely to hit $36,000 soon, which could be good news for altcoin traders. According to the analyst, BTC’s price may experience a drop after hitting $36K, and as a result, there will be a liquidity inflow into altcoins.
$BTC / $USD – Macro UpdateI still very much expect this to occur. #Bitcoin to hit $36,000, decline, for the liquidity to trickle into #Altcoins
If you find my charts helpful, sign up to my partners and trade using my link using code M1CZN5
https://t.co/AMR0gAWUog pic.twitter.com/fR4cS4VP7A
— Crypto Tony (@CryptoTony__) November 1, 2023
CoinMarketCap indicated that, at press time, the market leader was still only worth about $34,446.85 after its price managed to climb by 0.90% in the past 24 hours of trading. This meant that BTC was trading right between its 2…
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