Crypto Expert Predicts Bitcoin Will Dominate Altcoins and Set New Records - COINTURK NEWS
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Crypto Expert Predicts Bitcoin Will Dominate Altcoins and Set New Records

8:34 am (40 days ago)
August 16, 2023

Experienced cryptocurrency analyst and strategist Credible Crypto has revealed that he expects Bitcoin (BTC), the largest cryptocurrency, to dominate and set new records by surpassing all altcoins. The analyst also added that after Bitcoin breaks records, significant explosions will occur in the altcoin market as fresh capital pours in. Here is the analyst’s latest commentary on Bitcoin and the altcoin market.

Liquidity Remaining in the Crypto Market Will Flow into Bitcoin, According to the Analyst

Anonymous cryptocurrency analyst Credible Crypto has stated that he anticipates a rise in Bitcoin in the short and medium term. According to the analyst, Bitcoin will draw the remaining liquidity in the cryptocurrency market, causing many altcoins to lose value against BTC:

As much as I expect an increase in BTC in the coming months, I also expect a decrease in altcoins’ BTC pairs by the same amount. It would be normal for many altcoins to drop by more than 50% against BTC.

DOGE/BTC, SOL/BTC, PEPE/BTC, and LINK/BTC pairs currently represent the status and resemblance of most altcoin pairs. During the past few months when BTC has consolidated, most altcoins have been unable to break the significant bearish trend against BTC and are hanging on the edge of a cliff.

There is limited liquidity in the system, and this liquidity will flow into BTC. 10,000 altcoins share liquidity against 1 Bitcoin, making it easier to understand why most altcoins will lose value against BTC in the next stage.

“Altcoins that Lag Behind BTC Will Make a Great Comeback,” Says the Analyst

While Credible Crypto currently expects a decline in the overall altcoin market, the analyst also added that after Bitcoin reaches its all-time high and starts attracting new capital, all altcoins will make a triumphant return. The analyst stated:

When the price of Bitcoin reaches its all-time high and new money starts flowing into the market, altcoins will explode in various directions. BTC’s dominance over the market will begin to decline for the first time in over a year, and altcoin BTC pairs will experience significant increases. I will try to shift some of my BTC into the aforementioned altcoins.

Credible Crypto holds a contrasting view compared to many analysts regarding Bitcoin’s potential to reach its all-time high this year and set new records. Data shows that Bitcoin’s price has experienced a 0.57% decline in the past 24 hours, trading at $29,186, with the largest cryptocurrency holding a 49% market dominance.

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