Crypto analyst il Capo of Crypto argued in his statement that altcoins may be entering a new bull wave.

Perhaps the most well-known analyst in the cryptocurrency world, il Capo of Crypto shared his latest views after the increases that came today in his statement.

According to the analyst, an important turning point was left behind with the Bitcoin (BTC) price exceeding $ 60,000 today. il Capo argued that reaching the liquidity zone above the previous all-time high is now more likely.

On the other hand, the analyst stated that the BTC dominance is at a major resistance point in the long-term chart and claimed that the upward power in the dominance is decreasing. The analyst drew attention to the altcoin dominance chart, namely OTHERS.D, to support this claim. As a result of this situation, the analyst thinks that although BTC is used as a reference for the direction of the market, the main focus should be on altcoins.

Finally, il Capo claimed in his statement that the cryptocurrency market is entering a significant impulsive bull wave and argued that altcoins will outperform during this period.

The analyst, who until recently had a major bear view of Bitcoin and the general cryptocurrency market, changed his views a few months ago.