With the BTC price cycle on a fixed path, analysts are busy predicting strong momentum in altcoin charts for the year ahead, which could create a rally.
Bitcoin and its performance continued to hold sway over the crypto market. Over the weekend, it traded above $60,000, while other altcoins also maintained stable movements. According to experts, the BTC price cycle still hasn’t peaked and will likely race to $70,000 soon. Meanwhile, its downturn was also uncertain, and Bitcoin may see a dip until whales and bulls start accumulating again.
Other analysts pointed to the possibility of altcoins charts shooting ahead in 2024. While Bitcoin has cooled, strength could be gathering among altcoins. The altcoins market cap hasn’t seen a strong decline yet, which could signal its resilience. Moreover, SOL, DOGE, and other tokens have seen negative returns over the weekend, but their year-to-date returns are still in the green.
Regarding the BTC price cycle, most predictions believe an all-time high for Bitcoin may come soon. According to past trends, the year after the halving event is usually bullish for Bitcoin’s cycle.
The global market cap for BTC has also sealed its size above $1 trillion. It is unlikely to go below the mark again. Meanwhile, Ethereum’s seven-day returns have been static, but the token is firm above $3,000.
BTC/USD 1D price chart
Bitcoin is currently trading at around $62,300 on April 29, 2024, with BTC/USD trading lower by a margin of 2.57% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.22 trillion in the last 24 hours.
BTC/USD is trading below its 20-day EMA (65,916.86), as BTC’s 24-hour volume was at around $19.6 billion. The global crypto market cap decreased by around 2.72%, trading above $2.31 trillion. BTC’s year-to-date returns are at 48.73%
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