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 just a few years. On the similar time, he has expressed skepticism concerning the potential for altcoins to embark on an analogous bullish trajectory to new highs.  

Bitcoin Anticipated To Hit $100,000

In an X (previously Twitter) submit on June 8, a crypto analyst recognized as ‘DonAlt,’ disclosed that he was extra pessimistic on altcoins than Bitcoin, the world’s largest cryptocurrency. DonAlt believes that Bitcoin could witness a mega rally, pushing its worth to commerce at $100,000 within the coming years. 

Contemplating the inflows into Spot Bitcoin ETFs and quite a few forecasts of an upcoming bull run, a $100,000 worth goal for Bitcoin appears more and more believable. Furthermore, quite a few market consultants, together with DonAlt, have maintained an optimistic outlook for Bitcoin, predicting main bull rallies for the cryptocurrency. Particularly, Standard Chartered has projected a worth enhance to $250,000 and Bernstein analysts anticipate a surge to $200,000 for Bitcoin. 

In distinction, altcoins have been underperforming considerably, influenced by broader market developments and bearish sentiment. Because of the declining worth of those cryptocurrencies, DonAlt has highlighted a attainable future the place Bitcoin dominates the crypto market whereas many altcoins trade 90% lower than their present valuations. 

Sharing an analogous sentiment, a crypto group member disclosed that apart from meme cash and some random altcoins, many cryptocurrencies have didn’t outperform Bitcoin on this present market cycle. He revealed that every one the altcoins which beforehand witnessed positive aspects on par with Bitcoin have declined considerably, whereas BTC has remained barely below its previous all-time high

Moreover, just a few group members have questioned whether or not Ethereum (ETH) and Solana (SOL) had been among the many altcoins predicted to say no as Bitcoin worth will increase. This concern arises as a result of, regardless of slight declines and market volatility, Ethereum and Solana have witnessed large positive aspects for the reason that starting of the yr. 

Solana, particularly, surged considerably following the launch of a Spot Solana ETF submitting, whereas Ethereum has been subtly following Bitcoin’s price movements, surging upwards throughout favorable market situations and declining severely amidst volatility. 

Will Altcoins Observe Bitcoin’s Rise To New Highs?

A crypto analyst recognized as ‘Physician Revenue’ on X launched an in depth report on altcoins for the third quarter (Q3) of 2024. In response to the analyst, altcoins are poised to witness a massive pump following the discharge of the official launch date for Ethereum Spot ETFs. This suggests that altcoins might doubtlessly exit bearish developments and align with Bitcoin’s bullish trajectory if it witnesses a worth reversal. 

Bitcoin
Supply: X

The crypto analyst believes that the current decline in altcoins presents a great buying opportunity for buyers. He asserts that the altcoin market’s current 35% downturn is a wholesome correction that doubtlessly alerts a surge to new highs as market situations stabilize. 

Moreover, the crypto skilled has predicted a brand new valuation goal for the altcoin market, anticipating its market capitalization to exceed $1 trillion by the tip of the yr.

Bitcoin price chart from Tradingview.com
BTC worth falls to $57,000 | Supply: BTCUSD on Tradingview.com

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