Crypto Enters Altcoin Season, Here's a List of Coins with Bullish Potential

Bittime - Is Crypto Entering Altcoin Season? Here's an analysis of some of the hottest altcoins in the market and their potential for a bull run by Paul Bar and Tim Warren crypto analysts at Tech Path! 

Bitcoin Price Analysis

Let’s start with Bitcoin. Currently, Bitcoin price is down a bit after the release of Producer Price Index (PPI) data and jobless claims in the US, which surprised some. 

The August report showed an increase from the previous month, slightly above expectations. That could have implications for jobs, a major concern as the Federal Reserve considers cutting interest rates.

How about a 25 basis point rate cut or something more aggressive, like 50?

The team said a 25 basis point cut would be ideal, indicating that inflation is under control, although employment remains a big question mark. 

A more aggressive cut, such as 50 basis points, often triggers market fears and can lead to a crash. Conversely, a 25-point cut usually drives the market higher.

What about Bitcoin Charts?

Next, let’s take a closer look at the Bitcoin chart. Bitcoin is showing some positive signs, but we are still in a bearish trend, with the price continuing to make lower highs and lower lows  .

According to Tim, the key level to watch is $65,000. A breakout of this level could turn bullish. Momentum indicators like RSI and MACD are also showing positive movement, and the latest buy signal suggests Bitcoin could reach $62,000 in the near future.

Ethereum Price Analysis

For those of you who like to trade altcoins, we also discuss Ethereum. Although the Ethereum ETF has just been launched, the price is still moving slowly. 

However, Tim stressed that while Ethereum has disappointed in the short term, its long-term potential remains huge, especially if the historical pattern of Bitcoin rising followed by Ethereum rising continues.

Solana and SUI Altcoin Analysis

Finally, we also discuss altcoins like Solana and Sui. Solana is now considered one of the “big three” cryptos alongside Bitcoin and Ethereum, while the newer Sui offers the potential for higher returns for risk-taking traders. 

Sui price prediction targets a 35% upside, making it an altcoin to watch.

Conclusion

So, whether you are investing for the long term or trading short term, there are exciting opportunities to be had. Make sure you stay up-to-date and watch these key levels over the next few weeks!

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.