A cryptocurrency analyst has predicted that bitcoin-price-past-halving-cycles/” rel=”nofollow”>bitcoin (btc) will rise to $100,000 in a few years. At the same time, he has expressed skepticism about the potential alternative currencies embark on a similar bullish trajectory towards new highs.
bitcoin is expected to reach $100,000
In a post on x (formerly twitter) on June 8, a cryptocurrency analyst identified as 'DonAlt', x.com/cryptodonalt/status/1810105903611318684?s=46″ rel=”nofollow”>revealed who was more pessimistic about altcoins than he was about bitcoin, the world's largest cryptocurrency. DonAlt believes that bitcoin-bullish-pattern-signals-rebound-to-70000/” rel=”nofollow”>bitcoin could experience a huge rallydriving its price up to $100,000 in the coming years.
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considering the bitcoin-etfs-record-inflows/” rel=”nofollow”>Capital inflows into bitcoin spot ETFs and numerous predictions of an upcoming bull run, a $100,000 price target for bitcoin seems increasingly plausible. Furthermore, numerous market experts, including DonAlt, have maintained an optimistic outlook for bitcoin, predicting significant bullish rallies for the cryptocurrency. Specifically, bitcoin-rise-over-200-to-250000/” rel=”nofollow”>Chartered standard has projected a price increase to $250,000 and Bernstein Analysts We anticipate a surge to $200,000 for bitcoin.
Unlike, crypto-values-to-2023-levels-analyst-names-best-altcoins-for-rally-in-july/” rel=”nofollow”>Altcoins have been underperforming significantly, influenced by broader market trends and bearish sentiment. Due to the price drop of these cryptocurrencies, DonAlt has highlighted a possible future where bitcoin dominates the cryptocurrency market while many Altcoins are trading 90% lower than their current ratings.
Sharing a similar sentiment, a member of the crypto community x.com/iamripoff/status/1810115733344661688?s=46″ rel=”nofollow”>revealed that, with the exception of meme coins and a few random altcoins, many cryptocurrencies have failed to outperform bitcoin in this current market cycle. It revealed that all altcoins that had previously seen gains on par with bitcoin have declined significantly, while btc has held up slightly bitcoin-price-crashed-58000/” rel=”nofollow”>below its previous all-time high.
In addition, some members of the community have x.com/bayc7100/status/1810145357667676456?s=46″ rel=”nofollow”>disputed Yeah ethereum (eth) and Solana (SOL) Altcoins are expected to fall as bitcoin price rises. This concern arises because despite slight declines and market volatility, ethereum and Solana have seen massive gains since the beginning of the year.
Solana, in particular, rose significantly following the launch of a Solana Spot ETF filing, while ethereum has been subtly following suit. bitcoin-price-tragic-june/” rel=”nofollow”>bitcoin Price Movementsrising during favorable market conditions and declining severely amid volatility.
Will Altcoins Follow bitcoin's Rise to New Highs?
A cryptocurrency analyst identified as 'Doctor Profit' on x published a detailed report x.com/drprofitcrypto/status/1810632696302845987?s=46″ rel=”nofollow”>report on altcoins for the third quarter (Q3) of 2024. According to the analyst, altcoins are set to witness a massive bomb Following the publication of the official release date of ethereum Spot ETFThis implies that altcoins could potentially break out of downtrends and align with bitcoin’s bullish trajectory if it experiences a price reversal.
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Cryptocurrency analyst believes the recent altcoin crash Presents a great buying opportunity for investors. He claims that the altcoin market’s recent 35% drop is a healthy correction that potentially signals a surge to new highs as market conditions stabilize.
In addition, the cryptocurrency expert has predicted a new valuation target for the altcoin marketanticipating that its market capitalization will exceed $1 trillion by the end of the year.
Featured image created with Dall.E, chart from Tradingview.com
