Following the 5%+ increase in Bitcoin prices following the FED's 50 basis point interest rate cut, interesting statements came from il Capo, one of the well-known analysts of the market.
According to the analyst, more and more altcoins have started to outperform and are breaking downtrends, giving bullish confirmations.
The analyst said that he had previously shared posts in this direction and that it was currently progressing as he predicted.
According to il Capo, altcoins, especially those with low market caps, are offering significant returns these days, but the altcoin season has not even started yet.
The analyst stated that the OTHERS index, which measures the value of the altcoin market, has given its first bullish confirmations, which is a good sign and could indicate the beginning of an acceleration period. According to il Capo, if this index, which is currently at $ 205 billion, passes above $ 265 billion, the second bullish confirmation will come and, according to his claim, the altcoin season can be considered to have started then.
The analyst, who had previously made bearish predictions and was wrong in his predictions, acknowledged the situation and added that there were always more opportunities in the future.
*This is not investment advice.
