Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
A crypto analyst has predicted that Bitcoin (BTC) will surge to $100,000 in a few years. At the same time, he has expressed skepticism about the potential for altcoins to embark on a similar bullish trajectory to new highs.\u00a0\u00a0 Bitcoin Anticipated To Hit $100,000 In an X (formerly Twitter) post on June 8, a crypto analyst identified as \u2018DonAlt,\u2019 disclosed that he was more pessimistic on altcoins than Bitcoin, the world\u2019s largest cryptocurrency. DonAlt believes that Bitcoin could witness a mega rally, pushing its price to trade at $100,000 in the coming years.\u00a0 Related Reading: Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance Considering the inflows into Spot Bitcoin ETFs and numerous forecasts of an upcoming bull run, a $100,000 price target for Bitcoin seems increasingly plausible. Moreover, numerous market experts, including DonAlt, have maintained an optimistic outlook for Bitcoin, predicting major bull rallies for the cryptocurrency. Specifically, Standard Chartered has projected a price increase to $250,000 and Bernstein analysts anticipate a surge to $200,000 for Bitcoin.\u00a0 In contrast, altcoins have been underperforming significantly, influenced by broader market trends and bearish sentiment. Due to the declining price of these cryptocurrencies, DonAlt has highlighted a possible future where Bitcoin dominates the crypto market while many altcoins trade 90% lower than their current valuations.\u00a0 Sharing a similar sentiment, a crypto community member disclosed that other than meme coins and a few random altcoins, many cryptocurrencies have failed to outperform Bitcoin in this current market cycle. He revealed that all the altcoins which previously witnessed gains on par with Bitcoin have declined significantly, while BTC has remained slightly below its previous all-time high.\u00a0 Furthermore, a few community members have questioned whether Ethereum (ETH) and Solana (SOL) were among the altcoins predicted to decline as Bitcoin price increases. This concern arises because, despite slight declines and market volatility, Ethereum and Solana have witnessed massive gains since the beginning of the year.\u00a0 Solana, in particular, surged significantly following the launch of a Spot Solana ETF filing, whereas Ethereum has been subtly following Bitcoin\u2019s price movements, surging upwards during favorable market conditions and declining severely amidst volatility.\u00a0 Will Altcoins Follow Bitcoin\u2019s Rise To New Highs? A crypto analyst identified as \u2018Doctor Profit\u2019 on X released a detailed report on altcoins for the third quarter (Q3) of 2024. According to the analyst, altcoins are poised to witness a massive pump following the release of the official launch date for Ethereum Spot ETFs. This implies that altcoins could potentially exit bearish trends and align with Bitcoin\u2019s bullish trajectory if it witnesses a price reversal.\u00a0 Related Reading: XRP Price: Crypto Analyst Identifies \u2018Point Of Control\u2019 That Could See A Repeat Of 2017 The crypto analyst believes that the recent decline in altcoins presents a great buying opportunity for investors. He asserts that the altcoin market\u2019s recent 35% downturn is a healthy correction that potentially signals a surge to new highs as market conditions stabilize.\u00a0 Furthermore, the crypto expert has predicted a new valuation target for the altcoin market, anticipating its market capitalization to exceed $1 trillion by the end of the year. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":629049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,5651],"tags":[134,138,142,89606,428,656,679,1119,89185,1122,1144,78790],"class_list":["post-628985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-bitcoin","tag-altcoin","tag-altcoin-news","tag-altcoins","tag-altcoins-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n
Crypto Analyst Says Bitcoin Could Reach $100,000, But What About Altcoins?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n