An analyst known in the cryptocurrency industry as Capo now predicts that the breakout of ETH in his pair with BTC will accelerate as Bitcoin’s dominance in the digital asset market declines. He is also of the opinion that we are on the brink of a spectacular alta season.
Capo: ETH will continue to rise
Capo notes that the Bitcoin Dominance Chart, which is used to track BTC’s percentage of the cryptocurrency market, is on the verge of losing a key 50% support level. The future of altcoins depends on this factor.
The thing is, this support looks weak right now. The RSI is falling and most altcoins look very good against the BTC background. A mega cycle on altcoins is waiting for us?
– the analyst asks on Twitter.
Another key signal the trader uses to judge the situation and whether a big altseason has just started is the state of the ETH / BTC pair. Capo predicts that ETH is on the verge of a strong breakout, which will drive the price of this top altar to 0.1 in tandem with BTC. In his opinion, the ETH / BTC pair is actually supposed to redefine the concept of a parabolic price jump.
$ ETH/ BTC is going to redefine the concept of parabolic
– il Capo Of $ NOIA (@CryptoCapo_) April 21, 2021
As the entire cryptocurrency market is now debating whether the big altseason has just kicked off, Capo informed its followers this week that it currently owns 75% of its cryptocurrency portfolio in altcoins, 20% in ETH, and 5% in BTC.
For example, Blockchain Syntropy (NOIA) is one of the altcoins that Capo is closely monitoring. In March, the analyst also exchanged his own “chosen” altcoins, which in his opinion are worth investing in. These assets are: Binance Coin (BNB), Band Protocol (BAND), Balancer token (BAL), Litentry (LIT), Zilliqa (ZIL), TomoChain (TOMO) and Hedera Hashgraph (HBAR).
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