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Altcoins Will See Positive Scenario If BTC Goes $26,000 – $30,000


news.coincu.com 22 January 2023 20:02, UTC
Reading time: ~2 m

According to DonAlt, a fictitious analyst informs that cryptocurrencies in US dollar pairings seem very, really fantastic.

USD pair altcoins are starting to look really really good

Best case for them IMO is:

>BTC rallies hard nuking BTC pairs (~26-30k)
>BTC temporarily tops and nukes
>BTC dead cats (on lower TFs) while alts go nuts
>Everything resets so we can continue going up

— DonAlt (@CryptoDonAlt) January 20, 2023

DonAlt is positive on altcoins vs the US dollar, but he believes they will correct against Bitcoin as he sees a significant BTC surge to $30,000.

DonAlt believes that after the BTC surge shows symptoms of fatigue, the next consolidation period might prompt capital movement into altcoins.

  • BTC rallies hard nuking BTC pairs (~26-30k).
  • BTC temporarily tops and nukes.
  • BTC dead cats (on lower TFs) while alts go nuts.

Altcoins have always taken a back seat whenever Bitcoin soars. At the time of writing, BTC is trading at $22,826, up roughly 38% year on year.

Source: Tradingview

DonAlt sees sidelined cash flooding back into digital assets when looking at the larger crypto markets.

Bear market rallies are beautiful. Still waiting for $30k~ but we’re getting closer to the point where bears start sweating so much that they might actually convert some stables into BTC/ETH/Alts. I’d like to TP [take profit] my trades into that but just don’t feel like it’s time yet.”

Previously, Coincu reported that Bitcoin continued to increase gradually in value and tapped yet another multi-month high. Bitcoin has retraced a few hundred dollars. Nonetheless, its market worth remains above $440 billion, and its dominance over altcoins exceeds 42%.

Besides, Aptos has been one of the strongest performers since the market began to recover a few weeks ago. The last seven days have been especially amazing for the native token, which has increased by 95% in that span.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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