Analyst: Altcoins Will “Rage Dump” Against Bitcoin as Momentum Pauses

shutterstock 498224299 630x420

Altcoins have strongly outperformed Bitcoin over recent weeks, with some gaining dozens of percent as BTC has flatlined in the low-$9,000s. Analysts expect altcoins to soon underperform BTC as bullish momentum in the altcoin market peters out. The drop has already begun, with some of the altcoin market’s hottest properties, so to say, posting poor performances over the past day. Many analysts and fund managers expect specific altcoins to retrace further as buying volume fails to return and bearish technicals form. Relative to altcoins, Bitcoin has done poorly over the past two to three months. As many altcoins have rallied by dozens of percent in a few weeks’ time, the market leader has effectively flatlined in the low-$9,000s. Despite this, analysts expect BTC to soon outperform altcoins as bullish momentum in the markets of the latter group stalls. Bitcoin Could Soon Outperform Altcoins, Predict Analysts Just two months ago, analysts…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE