Anonymous crypto analyst DonAlt stated that if BTC rises while altcoins don’t, it would be the start of a favorable bull market. The analyst expects the largest cryptocurrency to continue its sideways movement until this happens:
I believe that the moment when BTC rises significantly and altcoins start to move downward is the moment when a major rally that will determine the main trend for at least one or two years will begin.
For now, the analyst stated that as long as Bitcoin remains above a significant support level, the upward trend will continue, saying, “As long as the price holds above $27,000, things are on track. I want to see the upward pressure on ALT/BTC pairs that caused a sharp drop in the past few days or weeks to continue. If this doesn’t happen, I will switch to the bearish side again.”
According to the latest data, the crypto king BTC is trading at $27,551, down 0.51% in the last 24 hours.
Warning of Low Performance for Ethereum
Looking at the second-largest smart contract platform, Ethereum, after Bitcoin, DonAlt expressed that he expects the largest altcoin to remain stagnant regardless of Bitcoin’s trend, stating:
Whether BTC rises or falls, I think ETH will have lower performance than BTC. As I mentioned weeks ago, a real Bitcoin exchange-traded fund is on the way (not a fake futures fund), and it’s impossible to ignore this fact when considering ETH’s price.
According to CoinMarketCap data, the largest altcoin ETH is changing hands at $1,644, down 0.56% in the last 24 hours.
