Ethereum

Rally

bullish

Bitcoin

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-forecast-bitcoins-rise-above-58000-and-altcoin-rally/" data-wpel-link="internal">Analysts Forecast Bitcoin’s Rise Above $58,000 and Altcoin Rally</a> 
As this article was prepared, Bitcoin’s price has surged above $58,000, marking a critical moment for the <a href="https://en.coin-turk.com/investors-witness-significant-moment-in-cryptocurrency-market/" data-wpel-link="internal">cryptocurrency</a>. Analysts have noted the importance of maintaining this level, especially since traders have been anticipating a new wave of bullish momentum with daily closures above $57,000. Bitcoin has managed to stay above this threshold on <a href="https://en.coin-turk.com/binance-connect-to-shut-down-on-august-16-a-critical-decision-that-will-impact-many-people/" data-wpel-link="internal">Binance</a> over the past 24 hours, prompting discussions about future price predictions. 
<h2 style="text-align: justify" id="cryptocurrencies-are-rising">Cryptocurrencies are Rising</h2> 
With Bitcoin surpassing the $58,000 mark, <a href="https://en.coin-turk.com/analyst-predicts-unlikely-altcoin-season-due-to-investor-behavior/" data-wpel-link="internal">altcoins</a> have begun to show signs of recovery. However, caution is advised as markets are often volatile leading up to Federal Reserve announcements. Analyst Carl suggests that after a 200-day consolidation period, Bitcoin (BTC) is poised for a potential rally of 200%. This perspective is strongly influenced by historical data. 
<blockquote> 
 “History may soon repeat itself! BTC last experienced an increase of over 200% after a 200+ day consolidation from March to October 2023.” 
</blockquote> 
<img decoding="async" class="wp-image-388475 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/kripto-para-ralli-hedefi.jpg" alt="" width="1270" height="688"> 
Trader Tardigrade also anticipates a sharp upward movement. His recent chart shared on September 12 indicates a rapid recovery in the markets. The three-day chart reveals bullish divergence signals for Bitcoin, advising traders to prepare for potential upward shifts. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-388478 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-yukselise-baslayacak.jpg" alt="" width="1160" height="1160"> 
<h2 style="text-align: justify" id="analysis-of-the-ethbtc-chart">Analysis of the ETHBTC Chart</h2> 
The performance of altcoins is closely tied to the Ethereum (ETH) chart. If ETH can maintain strength against Bitcoin, altcoins are likely to see upward movement as well. This situation may trigger a decline in BTCD and bolster capital inflow into altcoins. An analyst known as Cryptobullet commented on the current situation: 
<blockquote> 
 “ETH/BTC Monthly Chart. We observe the same pattern repeating itself. Currently, we are in the last phase of the bear market for $ETH/BTC – Support Breakdown (Capitulation) &amp; Accumulation. It seems it’s time to convert some BTC into Ether.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-388479 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/ethbtc-grafik-yorum-scaled.jpg" alt="" width="2560" height="1375"> 
As depicted in the chart, the ETHBTC chart shows that after the breach of support, a recovery was triggered, similar to previous cycles. Whether history will repeat itself remains uncertain, but if ETH climbs to the 0.11 BTC level, it would signify a new all-time high. 
At the time of writing, Bitcoin is priced at $58,389, while ETH is lingering around $2,349. 
The post <a href="https://en.coin-turk.com/analysts-forecast-bitcoins-rise-above-58000-and-altcoin-rally/" data-wpel-link="internal">Analysts Forecast Bitcoin’s Rise Above $58,000 and Altcoin Rally</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analysts Forecast Bitcoin’s Rise Above $58,000 and Altcoin Rally

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