In a recent video, Carl Runefelt shared his insights on the current state of the cryptocurrency market. The CoinSpeech team has collected the most important takeaways from his recent appearance. You can find Carl Runefelt’s new video below.
Altcoins Are Struggling
“It is right now game over for altcoins.” Carl emphasized that altcoins are collapsing against Bitcoin as all attention is directed towards Bitcoin. With Bitcoin dominating market interest, altcoins are losing value rapidly.
Potential Bitcoin Breakout Patterns
Carl highlighted a potential breakout pattern for Bitcoin. He pointed out a previous falling wedge pattern that led to a profit when it broke out. “We could see a fractal here so basically the pattern could repeat.” If this pattern holds true, Bitcoin could revisit the target of $71,800.
The Inverse Head and Shoulders
Runefelt discussed another technical pattern, the inverse Head and Shoulders, which he believes could push Bitcoin even higher. “The actual Target here is not only the falling wedge but is the inverse Head and Shoulders which takes us all the way up to $87,900.” This significant upside makes him optimistic about opening long positions on Bitcoin.
Trading Tips and Promotions
Carl strongly recommended using platforms like Bybit or BitFlex for trading. “If you haven’t signed up to Bybit, do it right now and start buying those altcoins.” He also mentioned various bonuses and deposit promotions to encourage traders to fund their accounts and make the most out of these potential market moves.
Future of Altcoins
Despite the current downturn, Runefelt remains optimistic about the future of altcoins. “We still have many many months to go to accumulate, and then we’re going to see those 100x, 50x, even 300x altcoins.” He suggests that the real bull market for altcoins will not begin until at least a year after the next halving.
With anticipation high for both Bitcoin and altcoins, Carl Runefelt’s insights provide a mix of caution and optimism for traders and investors in the cryptocurrency market.