Is this the end for altcoins? Bitcoin’s price rebounds by 5% from its lowest point of $59.7K.

Bitcoin (BTC) surged to $63,000 ahead of the Wall Street open on April 18, bringing a sense of optimism to traders. The price of BTC reached its lowest point since early March at $59,700, causing some analysts to predict further declines. However, others, such as Rekt Capital and Jelle, believed that BTC was in a “re-accumulation range” and that the downside wicks were merely a trick to deceive investors before a new uptrend. These analysts pointed to historical price patterns and on-chain signals to support their claims. Meanwhile, altcoins continued to struggle amidst a brutal downtrend, with the total altcoin market cap still unable to break free from its decline. While some analysts predicted further consolidation for Bitcoin, others identified potential targets for a deeper correction. It is important to note that this article does not provide investment advice and readers should exercise caution and conduct their own research before making any financial decisions.