According to a widely followed analyst, a cryptocurrency during this bull cycle; From Bitcoin (BTC) and the other four major altcoins –Solana, Binance Coin, Cardano, Ethereum– will be able to perform better.
The crypto analyst, known by the pseudonym Capo, has 180,000 Twitter followers, that Bitcoin dominance is the other side of Bitcoin’s market value. cryptocurrency says that it appears to be trending higher, but likely to hit stiff resistance at the 50.00 level.
According to the analyst, as Bitcoin hit an all-time high, Bitcoin dominance finally peaked, fell and put altcoins on a new uptrend. According to Capo, a similar scenario may be on the horizon.
“BTC.D status update. We cannot miss the movement up to 49-50%. The last time BTC made a new ATH, the dominance continued to rise for several days. Sooner or later it will reach new lows. I will hold altcoins until the end of the cycle.”
Stating that Bitcoin parity (ETH/BTC) has already formed a bullish structure that shows its all-time high, the analyst expects Ethereum to outperform Bitcoin when capital starts to move to altcoins.
“$ETH/BTC.
It bounces at a range that looks like re-accumulation. This is the higher low of the bullish structure. I wouldn’t bet on a negative outcome. This is quite beneficial for altcoin season.”
Ethereum Capo, who expects it to outperform Bitcoin, Cardano (ADA) It will outperform ETH, Binance Coin (BNB) will outperform Cardano, and finally Solana’s (LEFT) in from Binance Coin It predicts it will perform better.
The only altcoin that the analyst predicts will outperform them all is the smart contract platform. Polkadot (DOT).
“Expected performance by end of cycle:
DOT > LEFT > BNB > ADA > ETH > BTC”
According to CoinGecko data, Polkadot is currently trading at $40 after a massive rebound from the $11 drop in July.
As a result, the strategist, who is closely followed by the crypto community, predicts that the entire crypto market cycle will end if Bitcoin trades above the $150,000 level, which is about a 145% increase from its current prices.
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.