One of the most popular American broadcasters and a known Bitcoin (BTC) bull named Max Keiser is in the coming altcoin news for a new statement. Keiser suggested that the cryptocurrency market rally will skip the altcoin phenomenon for now, and all of the surge will go into Bitcoin.
The rally won’t include altcoins, as Keiser stated in an interview with CNBC. He also said that with the development of the cryptocurrency space and adoption of the Segregated Witness (Segwit) and the Lighting protocol, a lot of people started to better understand the store of value that Bitcoin offers, as well as the scaling that could happen off chain. As Keiser noted, this is what makes crypto owners move their funds into “the most secure chain (Bitcoin)” and hence what stops the altcoin phenomenon from peaking.
The Bitcoin bull further projected that altcoins are going to pennies or even out of existence. As he revealed, “all that cash is going to flow into bitcoin.” He reasoned that with the current Bitcoin market dominance at 60% “the altcoin phenomenon is finished.” Additionally, Keiser predicts the Bitcoin dominance to further surge and reach 80% to 90% highs.
As of recently, another veteran was featured in the latest cryptocurrency news. Peter Brandt, a veteran trader and author said that Bitcoin will continue to grow but altcoins may not feel the benefits. According to him, unlike the previous bull market cycle in 2017, this one would not have a knock-on effect elsewhere. As he summarized again mentioning the altcoin phenomenon, ““Cryptomaniancs expect alts to do so again — they may be very disappointed.”
The chief at ThinkMarkets, Naeem Aslam, also aligns with these statements. In late June, he predicted that Bitcoin will hit somewhere between $60,000 and $100,000 during its next bull run. According to his beliefs, BTC will hit $20,000 and by doing that it will move from conservative estimates exceeding the number one coin’s all-time high to forecasts of $50,000. From there, Aslam believes that Bitcoin will move the price target to $100,000.
The recent altcoin phenomenon – of altcoins not surging as high as Bitcoin did – is a hot topic on many best cryptocurrency news sites. Currently, the market is correcting and we cannot see much action on both sides.
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