Connect with us

Hi, what are you looking for?



Altseason Imminent: ‘Most Altcoins Should Gain on Bitcoin Soon,’ Says Veteran Analyst

During the last 30 and 90-day intervals, a number of altcoins have done much better than bitcoin, as far as price percentage increases are concerned. Last Thursday, the popular analyst Peter Brandt told his 360,000 followers that the price of ethereum saw a “significant breakout” against bitcoin. Moreover, a number of cryptocurrency proponents have been feverishly discussing a possible “altcoin season” coming in the near future.

Veteran Analyst Peter Brandt Eyes an Ethereum Breakout

Three days ago, the veteran trader and crypto analyst Peter Brandt explained that a recent ETH/BTC event could trigger some bullish ETH prices. “Significant breakout in ETH-BTC with target of .03276 BTC. Most alts should gain on Bitcoin in [the] near future,” Brandt tweeted to his followers.

When someone asked Brandt about the crypto asset XRP, Brandt responded “higher.” Moreover, the bitcoin pundit Tuur Demeester also said he was “long” toward ether prices when he tweeted:

ETH/BTC technicals are looking bullish so I’m long. (I still think ETH has extremely problematic fundamentals).

Altseason Imminent: 'Most Altcoins Should Gain on Bitcoin Soon,' Says Veteran Analyst
ETH/BTC chart via Peter Brandt on Twitter.

Of course, the subject of ETH spiking in price has sparked a number of discussions concerning “altcoin season,” a description of a period in time when crypto-assets other than BTC perform better than the top digital currency. Still, out of 5,700 coins mentioned on market cap aggregators, BTC has a dominance rating of around 62.5%.

However, over the last 30 and 90 days, a number of other coins have outperformed BTC by a longshot. During the last 90 days, BTC is up over 35% but ETH has gained 52%.

Another Analyst Stresses: ‘The Altcoin Party Will End Very Soon’

Cardano (ADA) has seen a whopping 271% increase during the last three months and coins like ren, fantom, kyber network, raiden network, and more are also up over 200%.

Other notable forerunners during the last three months include CRO, VET, LEND, and ZRX. However, despite the massive increases in value for a number of coins other than BTC, some digital asset traders don’t envision an ongoing “altcoin party.”

News Source


Copyright © 2020 Elevenews