Bitcoin has been in a bull market almost since March 2020. It was a tremendous journey, so to speak, for the price to come from $ 4 thousand to $ 69 thousand. During this time, we witnessed sharp declines. In the last drop, Bitcoin fell to the level of 42 thousand dollars in a short time. Despite this recent drop and the uncertainty in the market, many investors think the bull season will continue. In particular, the fact that altcoins have not tested their old ath is the most supportive argument for this view.
As it is known, the bull market refers to the period when the market is in an upward trend, that is, the prices will follow an optimistic environment in the future and therefore investors will make purchases. Taking into account previous bull seasons, we assume that the period in question has major phases. Accordingly, the general narrative is that the cash entering the market during the bull season will first carry Bitcoin to the top, and then start an altcoin rally with the decreasing Bitcoin dominance.
But there is another view that has become popular lately: “Can altcoins peak before Bitcoin makes a new rally?” One of the first names to voice this opinion was analyst Burak (@1buraker).
There was a close below $52,222,
I don’t expect new ATH in Bitcoin for a long time anymore,
Altcoin rally #ETH will be led and we will see the rises in altcoins this week,
Bitcoin maxes out at $53,500-$55,666 and then drops again.
— Burak (@1buraker) December 6, 2021
As can be understood from the analyst sharing, he expects a “rally without Bitcoin” and thinks that Ethereum will lead this rally. But Burak is not the only person to make such a prediction.
In addition, popular analyst Paradotor (@eness_turann) shared a similar view as “plan B”. The analyst expects the BTC price to stay in a certain range and the market dominance to fall down in the coming days. According to the analyst, the altcoin rally could start much sooner than expected.
“PLAN B?” FLOOD!
1- In August, I told you this. Plan B can be implemented! So what was A? It was a plan implemented for 8 years. First, BTC would go to the top, then the money would slide to the bottom. And this plan has been memorized in the market for years and everyone has adjusted their position accordingly. >
— Paradotor (@eness_turann) December 7, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.