Crypto Analyst Issues Warning, Says Altcoins Will Pay The Price As Bitcoin Prepares To ‘Go Hard’

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A prominent crypto trader and analyst warns that “altseason” has not yet arrived because Bitcoin (BTC) is preparing to steal the show from the crypto markets.

Analyst known as Altcoin Sherpa told his 141,000 Twitter followers that altcoins won’t perform as well as they might in the near future, in large part due to the bullish price action of BTC.

“Do you notice how the alt / BTC pairs go down when BTC makes a move?” There is more of this to come.

Alt / USD [US dollar] is expected to rise (but still underperform Bitcoin). It is not yet a season in my opinion. You have been warned. “

The closely watched analyst said Bitcoin is forming a bullish low around the $ 60,000 level, and although he is open to the possibility of a brief slowdown, he still expects BTC to eventually rally. strongly at current levels.

“BTC: I feel really comfortable saying this is a low formation. Maybe we get some sort of peak up to 55,000 or something, but I don’t am not so sure.

Anyway, I don’t care about those little movements; I always buy more Bitcoin in this area. When it moves, it will go hard.

Source: Altcoin Sherpa / Twitter

The analyst reiterates that he believes altcoins will have time to shine, but likely only after Bitcoin rallies and subsequently cools. As an example of what might be in store, he refers to the end of 2020, when Bitcoin jumped from the $ 10,000 level to $ 30,000 while most altcoins remained relatively stable.

Looking at Ethereum, Altcoin Sherpa says he expects ETH to rise in dollar terms, but take a break in his Bitcoin (ETH / BTC) pair. He believes ETH has the potential to go parabolic in early 2022.

“ETH: Welcome to the future. Ethereum is going to perform very well as a USD pair, but will still underperform BTC in the coming weeks. “

Source: Altcoin Sherpa / Twitter

The analyst also expects the smart contract platform Solana (SOL) to continue its rally, but ultimately perform poorly against Bitcoin as well.

“SOL: I am still of the opinion that Solana is underperforming BTC in the coming weeks when BTC really starts to move. The USD pair should however continue strongly.”

Source: Altcoin Sherpa / Twitter

At the time of writing this article, Bitcoin is currently trading at $ 66,090.

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