Analyst Who Predicted Bitcoin’s 2018 Bottom: Altcoins May Plunge in 2021

Analyst Who Predicted Bitcoin’s 2018 Bottom: Altcoins May Plunge in 2021


It’s been an incredibly strong year for altcoins thus far. Versus Bitcoin, many have outperformed.

As reported by Bitcoinist previously, the small-cap, medium-cap, and large-cap altcoin indexes from crypto exchange FTX have outperformed Bitcoin since the start of 2020.

Bitcoin vs. low-cap, mid-cap, and large-cap altcoins chart shared by cryptocurrency trader Ceteris Paribus (@Ceterispar1bus on Twitter).

Yet a prominent analyst expects this trend to reverse in 2021. He went as far as to say that Bitcoin dominance — the percentage of the crypto market made up of BTC — could surpass 2019’s highs.

Bitcoin Dominance Could Surge in 2021: Analyst

According to a trader, Bitcoin dominance has the potential to surge to 86% heading into the end of 2021/start of 2022.  The analyst attributed this sentiment to Elliot Wave, which is a type of technical analysis suggesting that markets move in predictable waves/cycles due to investor psychology.

The trader that shared this sentiment is the same one that,

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