The trader predicts that Bitcoin will increase again, pointing to two other cryptocurrencies, one of which is now up 82%.
Analysts say Bitcoin will not trade below $40,000 again and highlight two altcoins that are expected to rise along with BTC to new all-time highs.
Although the price of Bitcoin (BTC) has fallen more than USD 10,000 from its recent high above USD 52,000, this has not discouraged traders and analysts in the cryptocurrency market who point out that the bulls are just resting while the bearish are getting tired believing they are winning the battle and driving the price of BTC down.
One such analyst is the trader known as Immortal, who recently stated on his Twitter account that the falling BTC price is just one of the last opportunities for those looking to buy the crypto asset in the $40,000 to $50,000 range.
According to Immortal, the current Bitcoin price will be the "last drop in history," as bulls have managed to keep the value of BTC above USD 40,000 even with one of the biggest macroeconomic pressures such as the Evergrande case and China's new bans on the cryptocurrency market.
Who also remains optimistic about the price of BTC is the strategist known as Capo. The analyst recently noted that investors waiting for a further drop in BTC to buy the cryptocurrency below USD 40,000 will be "disappointed."
Altcoins to buy
However, with a rise in the price of BTC the trend is for the entire cryptocurrency market to gain new momentum and therefore altcoins could reach new all-time highs in value.
In this possible new bullish cycle the trader, known as Pentoshi, who became known for getting the BTC price movement right, stressed that he is optimistic about REN, a platform that empowers transactions between different blockchain platforms.
Although the cryptocurrency has already increased more than 82 percent in less than two weeks, according to the expert, there is still an opportunity for new highs due to the structure that has mounted the crypto asset's chart, which alludes to a possible rise to USD 1.34.
The second cryptocurrency on the radar is Cosmos (ATOM), a project dubbed the "blockchain internet." According to Pentoshi, Cosmos looks strong against Bitcoin (ATOM/BTC) after taking out a crucial resistance zone at 0.0007 BTC, with a value of USD 29.54.
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