Crypto Analyst Says Bitcoin Could Reach $100,000, But What About Altcoins?



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.  

Bitcoin
Anticipated
To
Hit
$100,000


In
an
X
(formerly
Twitter)
post
on
June
8,
a
crypto
analyst
identified
as
‘DonAlt,’


disclosed


that
he
was
more
pessimistic
on
altcoins
than
Bitcoin,
the
world’s
largest
cryptocurrency.
DonAlt
believes
that


Bitcoin
could
witness
a
mega
rally
,
pushing
its
price
to
trade
at
$100,000
in
the
coming
years. 


Related
Reading


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,

How To Get Free Crypto  


Standard
Chartered


has
projected
a
price
increase
to
$250,000
and


Bernstein
analysts


anticipate
a
surge
to
$200,000
for
Bitcoin. 


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. 


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


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. 


Solana,
in
particular,
surged
significantly
following
the
launch
of
a
Spot
Solana
ETF
filing,
whereas
Ethereum
has
been
subtly
following

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Bitcoin’s
price
movements
,
surging
upwards
during
favorable
market
conditions
and
declining
severely
amidst
volatility. 

Will
Altcoins
Follow
Bitcoin’s
Rise
To
New
Highs?


A
crypto
analyst
identified
as
‘Doctor
Profit’
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’s
bullish
trajectory
if
it
witnesses
a
price
reversal. 


Related
Reading

Source:
X


The
crypto
analyst
believes
that
the
recent
decline
in
altcoins


presents
a
great
buying
opportunity


for
investors.
He
asserts
that
the
altcoin
market’s
recent
35%
downturn
is
a
healthy
correction
that
potentially
signals
a
surge
to
new
highs
as
market
conditions
stabilize. 


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.

BTC
price
falls
to
$57,000
|
Source:

BTCUSD
on
Tradingview.com

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson


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