Categories: Analysis

Analyst Predicts Altcoin Bloodbath as Bitcoin Dominance Surges

A famous analyst believes Bitcoin will continue to suck altcoin blood in the near future.

Known in the industry by the nickname Altcoin Sherpa, the person who told his 133,300 Twitter followers that the bitcoin dominance chart looks bullish, which usually corresponds to a decline in the altcoin / bitcoin pair.

“This is the bitcoin dominance rate chart, when BTC.D goes up, alt / btc goes down. [Bởi vì] Lots of people hold 100% altcoins, they will cry when they see altcoins underperforming.

BTC boom -> merge old / usd -> old / btc [giảm]”.

The source: Altcoin Sherpa / Twitter

The Bitcoin Dominance Ratio tracks BTC’s market capitalization compared to the rest of the crypto market. The fact that it is moving up shows that Bitcoin is growing faster than other cryptocurrencies.

Turning to Bitcoin, Sherpa said that Bitcoin’s market structure has turned bullish after hitting its first higher high in five months.

“The market has 3 phases, range bound, upward trend or downward trend. I believe Bitcoin is currently in an upward trend. Expects to hit an all-time high in the next few weeks. ”

The source: Altcoin Sherpa / Twitter

For the second largest cryptocurrency Ethereum (ETH), the analyst expects the ETH to move towards a new all-time high.

“That’s what I expect from Ethereum. Switch to 4k, consolidate and reach a new all-time high. ”

The source: Altcoin Sherpa / Twitter

Currently, Ethereum is only trading around $ 3,500, but Sherpa expects it to crack over $ 4,300 in November.

Finally, Sherpa has its eye on the Harmony (ONE) smart contract platform. He said ONE is ready to move higher in both the USD and BTC pairs.

“This is one of the few altcoins that I can look forward to right now. I think the BTC pair will hit a new ATH due to the breakout in the USD pair. It’s really strong in both pairs. ”

The source: Altcoin Sherpa / Twitter

Source: AltcoinSherpa / Twitter

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

SN_Nour

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

24 minutes ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

1 hour ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

4 hours ago

This website uses cookies.