Analysts: Altcoins will see a relief rally as soon as Bitcoin stabilizes

13 Jul, 2019 | Updated: 13 Jul, 2019
by Fifi Arisandi
Analysts: Altcoins will see a relief rally as soon as Bitcoin stabilizes

Analysts say that Bitcoin is bullish if it manages to break $12,500, whereas altcoins will be bullish if the largest crypto manages to stay increase.

The crypto market has shown huge volatility in the last couple of days. Either Bitcoin and altcoins have had an “indecisive trend” as to where they will head next, leaving many clueless and probably anxious at the same time.

Some analysts, however, have some things to say about where Bitcoin and altcoins are heading moving forward, as reported by NewBTC.

Renowned crypto analyst, Josh Rager said that he’s “absolutely bullish” if Bitcoin manages to break above $12,500 and bearish if it falls back to $11,136. As of writing time, it is traded around $11,700, after recovering from the previous level of $11,200.

Meanwhile, another analyst predict what is likely to happen to altcoins, on which he refers to BTC’s position.

“If BTC stays still increases chances that short term relief for alts can have follow through,” said Luke Martin.

As of writing time, almost all top 100 cryptos, including the major ones are in green, which is different with how they were just couple of hours ago.

Image from Gyazo

Stick with Chepicap to find out if the predictions come true.

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