Many crypto investors may prefer altcoins instead of Bitcoin. Although the market dominance of BTC is very high compared to others, this is thought to be due to the fact that governments, banks and institutional investors only buy Bitcoin.
An anonymous analyst named Stock Money Lizard, a name that crypto investors have been following closely in recent days, claimed that a huge rally for altcoins could start in the coming days.
"#Altcoins are preparing for the #ALTSEASON rounding bottoms + oversold RSI --- maybe it's nothing"
Is Ethereum-led Mega Rally Beginning for Altcoins?
Known as the "Stock Money Lizard", the analyst studied the market cap chart of altcoins and shared his impressions with his followers. According to this analysis, Stock Money Lizard, which claims that the declines in altcoins are over, showed that it expects a new bull season.
Reiterating that the Relative Strength Index (RSI) is in the oversold region, the successful analyst says that a new bottom is now formed at the bottom levels.
Although Bitcoin, the leading cryptocurrency, is 65% behind the ATH level, it is observed that many altcoins are behind the ATH point by 95%.
Saying that a big altcoin rally will start in the coming days, the anonymous analyst thinks that popular names such as Ethereum, Ripple, Cardano and Solana will gain much more value than expected in this rally.
This Analyst Reiterates Bullish Forecast on Bitcoin!
On the other hand, another analyst Aurelien Ohayon continues to make bullish predictions for Bitcoin. The popular analyst, who has said that we have come to the end of the bear season in BTC for a long time, seems to have been successful in some of his predictions for now.
According to Ohayon's latest tweet, Bitcoin may start a journey towards ATH levels again in the coming months. Claiming that BTC will gain more than 340 percent in value, the successful analyst likens recent events to the movements in the 2018 - 2019 period.