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Five Altcoins Are Showing Strength As Bitcoin Bottoming Begins, According to Analyst Nicholas Merten
A closely followed crypto analyst says five large-cap altcoins are starting to flash signs of strength as Bitcoin (BTC) attempts to carve a bottom.
Na taʻu atu e Nicholas Merten i lana aofia o le 516,000 YouTube tagata fai saofaga o loʻo amata se suiga i maketi altcoin, ma Bitcoin i le faagasologa o le pito i lalo.
“We are getting into the kind of capitulation phase of the sell-off for Bitcoin, meaning that we’re in dollar cost average territory. We might still go down a couple thousand dollars in BTC’s price, but we’re at the typical 70% or below range here from all-time highs and even considering the macro environment, considering all these factors, we are likely entering into sideways capitulation here."
Ua faʻamamafaina e Merten le mea moni XRP is now beginning to gain bullish momentum in its Bitcoin pair (XRP/BTC).
“You’ve got XRP here that has brought itself back to a level that it’s been consistently ranging around here essentially since back in June of 2020, so it is on par with the performance of Bitcoin really since as far back as June of 2020 here.”
Punavai: DataDash/YouTubeFai mai Merten Binance tinoitupe o loʻo faʻaalia foi le malosi e faasaga i le BTC (BNB/BTC).
“We’ve got BNB which has continued to hold up on an ascending line of support here against its Bitcoin pair. Basically just a few percentage points away from its May 2021 highs or its highs in December of 2021, so really not too fated here against Bitcoin. "
Punavai: DataDash/YouTubeFai mai Merten tulaga faakonekarate atamai Solana has also been surging against Bitcoin (SOL/BTC) over the last few weeks.
“Tatou te le o talanoa tele e uiga ia Solana iinei ae e tatau ona ou tuuina atu le faafetai iinei. O lo'o si'i a'e mai le tulaga maualalo i'inei e tusa ma le 76% mai lea tulaga maualuga iinei, 72% i le taimi na pu'eina ai iinei.”
Punavai: DataDash/YouTubeE matauina foi e le tagata su'esu'e se pop i le tau o Avalanche faasaga i Bitcoin (AVAX/BTC) after the asset’s rough ride this year.
“We’ve seen Avalanche,9 which has been on a brutal sell-off here, about an 80% downturn from the highs here, seeing a major rebound here in price coming off of the lows here about 50% against Bitcoin. That’s really exciting stuff to see here.”
Punavai: DataDash/YouTubeI le mea mulimuli, o le tagata suʻesuʻe e faʻamaonia ai fefaʻatauaʻiga faʻapitoa E leʻi lavea, noting its huge gains against Bitcoin (UNI/BTC) over the past several weeks.
E o'o lava i se tasi o ta'aloga DeFi [fa'aletupe tu'ufa'atasia] na matou talanoa ai iinei. O le UNI, i lenei tulaga, o loʻo faia se faʻataʻitaʻiga lua pito i lalo e sili atu i le 87%. I le amataga o aso nei ua alu aʻe i luga ile 94%.
Punavai: DataDash/YouTubeI
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