- BTC sets new bullish ATH at $79,300 fueling highly bullish altcoin sentiment.
- Memecoin turned altcoin Shiba Inu (SHIB) shows bullish indicator on price chart.
- VET analyst expects VeChain to pump by over 3000% mirroring glory days of 2018 and 2021.
Bitcoin’s bullish momentum continues as the pioneer crypto asset sets another bullish ATH in consecutive days nearing a bullish price target of $80,000. Most recently, BTC’s price surged to new ATHs which took it to its current position in the price discovery phase at $79,300 after setting new ATHs between $75,000 to $78,000 in the same week.
Bitcoin Conquers $79,000 and Reaches for $80,000
With Bitcoin establishing new ATHs almost daily, optimism for a major Q4 rally continues to intensify. Many experienced crypto analysts and traders now forecast BTC’s potential to hit a six-figure mark between $100,000 and $150,000 by the end of Q4.
This powerful upward trend appears largely connected to the U.S. election outcome, where pro-crypto candidate Donald J. Trump’s victory has further fueled BTC’s momentum. Analysts believe that Trump’s win has accelerated the market’s anticipated ‘super cycle’, suggesting a six-figure BTC price might arrive sooner than expected.
Another positive factor driving the market’s bullish outlook is the crypto market’s entry into the ‘golden pocket’—a prime trading period between U.S. Election Day and Inauguration Day known for significant trading opportunities. This period is historically linked with rapid BTC gains, and if the pattern holds, Bitcoin’s price could continue setting ATHs at a fast pace, potentially reaching $80,000 and beyond.
Altcoins SHIB and VET Prepare for Major Rally
Bitcoin’s continued rally is also seeping into the altcoin market as seasoned analysts and traders believe altseason will arrive after BTC sets its greatest top price by the end of Q4 leading to altseason in Q1. Supporting the expectations for new ATHs for altcoins in altseason are the bullish charts of the altcoins themselves. For instance, SHIB and VET seem to be preparing for a mighty pump.
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Based on the posts above, the VET analyst expects the price of VeChain to pump by over 3000% leading to significant gains reminiscent of 2018 and 2021. Similarly, Shiba Inu (SHIB) recently confirmed a bull pattern with the RSI. This signifies that the memecoin turned altcoin will climb with major strength signaling another massive leg up.
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