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Bitcoin Sinks Following New ATH, Trader Unfazed and Prepares for ETH Rally

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Bitcoin Sinks Following New ATH, Trader Unfazed and Prepares for ETH Rally

  • Ash Crypto reassures investors amid Bitcoin’s drop, citing profit-taking and alt resilience.
  • Ethereum poised to surge post-Bitcoin stabilization, with ETF anticipation.
  • Altcoin rally expected as market confidence grows, urging patience over impulsive reactions.

Seasoned crypto trader, Ash Crypto, offers insights into Bitcoin’s recent price drop and the outlook for Ethereum (ETH) and altcoins in the cryptocurrency market. In particular, he addresses why Bitcoin has fallen below its previous ATH of $69,000 despite setting new ATH of $73,737 yesterday.

Why Bitcoin is Dumping and what is
next for ETH and Altcoins ?

First of all stop panicking, Bitcoin had
a massive run from $15,4k to $73,600
and we are seeing a delayed correction
which can be due to profit taking by
early investors. You can see Alts are
holding pretty…

— Ash Crypto (@Ashcryptoreal) March 15, 2024

In response to concerns over Bitcoin’s decline, Ash Crypto urges investors to remain calm, attributing the drop to a necessary correction following a significant price surge. He highlights that altcoins are holding up well despite Bitcoin’s dip, indicating a shift in investment from BTC to other cryptocurrencies.

Anticipating Bitcoin to stabilize within the $60,000 to $72,000 range, Ash Crypto predicts a favorable environment for Ethereum as attention turns towards the leading altcoin. He notes the potential approval of a spot exchange-traded fund (ETF) for Ethereum in May, following Bitcoin’s halving event scheduled for April.

With Bitcoin consolidating, Ash Crypto foresees Ethereum surpassing $5,000 and reaching new all-time highs, driven by ETF-related excitement akin to Bitcoin’s previous rallies. As Ethereum gains momentum, Ash Crypto expects increased market confidence leading to a surge in investment across high, mid, and low-cap altcoins, signaling the onset of a robust altseason.

In conclusion, Ash Crypto advises investors to remain steadfast and patient, emphasizing the long-term potential of altcoins and urging against reacting impulsively to market fluctuations driven by large investors.