Bitcoin Breakout May Have Further to Run, Altcoins Also to Gain, FSInsight Says

Posted on by American Coins & Gold

Bitcoin Breakout May Have Further to Run, Altcoins Also to Gain, FSInsight Says
Bitcoin’s breakout above $63,300 on Monday to all-time highs is “constructive technically” and should see prices rise to $72,000 initially and then $77,600, according to FSInsight, a markets strategy and research firm.FSInsight notes that bitcoin momentum isn’t overbought yet on daily or weekly timeframes.Read more: Bitcoin Soars Past $68K for the First Time as Ether Also Sets Record HighA breakout in bitcoin’s market-cap dominance chart means it may outperform altcoins in the near term, FSInsight said. This “represents a likely shift to higher market capitalization into bitcoin than altcoins in the near future.”Bitcoin and ether cycles “show upward progress into…