Altcoins may soon overtake Bitcoin, according to a crypto-strategist.BTCAfter years in the shadows, he finally emerged.
Analyst Michaël van de Poppe tells his 789,100 followers on the social media platform X that he thinks the period of altcoin underperformance against Bitcoin is almost over based on the Bitcoin Dominance (BTC.D) chart.
BTC.D shows the percentage of crypto-market cap that belongs to BTC. BTC.D that is bearish indicates altcoins outperforming Bitcoin.
Van de Poppe says that altcoins will soon surpass Bitcoin in terms of market share. flashing A bearish signal is seen on the chart.
“The bear market’s end (yes, there is a bear-market on altcoins that are underperforming Bitcoin) has not yet arrived.
The Bitcoin dominance is about to reverse, and the altcoins are about to take off.
No change has occurred.”
BTC.D hovers at 63.89% as of the time this article was written.
Bitcoin trader: What you need to know thinks BTC is likely to retest an important psychological support area before it rallies up new record highs.
I’m watching the price movement and will not be surprised to see a minor correction on Bitcoin.
It’s likely macro-driven for some reason or another, but it wouldn’t surprise me if the market gained more endurance before we continued our rally up to $120,000 to $ 130,000.”
Bitcoin’s value is $109,112.
Ethereum (ETHThe analyst says A correction towards the $2,000 level could be a good opportunity for investors with a long-term view.
“I also think it’s important that ETH drop below $2400. This will be a huge opportunity.
Ethereum’s price rose in just a few short days from $1800 to $2700. It’s normal for there to be a correction of 10-20%. This is an excellent opportunity to buy in.
As of the time this article was written, ETH has a value of $2,663.
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