Bitcoin [BTC] Price Update : Present CryptoCurrency Bull Rally Won't Embody Altcoins.

Bitcoin [BTC] Price Update : Present CryptoCurrency Bull Rally Won't Embody Altcoins.

2019-07-02 | Robin Williams

Bitcoin [BTC] Price Update : Present CryptoCurrency Bull Rally Won't Embody Altcoins.

In line with a recent 'interview' with CNBC, renowned American broadcaster & Bitcoin [BTC] bull named ‘Max Keiser’ aforesaid that the present crypto-currency market rally won't embody altcoins.

Keiser added that with the event of development of the cryptocurrency space and adoption of Segwit as well as Lightning protocol, users began to better understand the store of value bitcoin offers, furthermore as scaling that might happen off chain. This, per Keiser, made cryptocurrency owners move their funds back to “the most secure chain ‘bitcoin’.”

Keiser additionally projected that altcoins are progressing to pennies or maybe out of existence, as “all that cash is going to transfer into the bitcoin.” He reasoned that with bitcoin’s market present dominance of around 60% - that Keiser purports might even increase to 80% to 90% - “the altcoin phenomenon is gone,” he added.

Recently, veteran trader and renowned author Peter Brandt 'expected' the price of bitcoin to grow but altcoins won't be feeling the same advantages. Brandt aforementioned that in contrast to the previous bull market cycle earlier in 2017, bitcoin’s gains wouldn't have a knock-on effect elsewhere. He summarized, “Cryptomaniancs expect alts to do so once again - but this time, they might be terribly disappointed.”

Earlier in June, ThinkMarkets chief analyst Naeem Aslam 'expected' that bitcoin can hit somewhere in-between $60,000 USD to $100,000 USD within its next Bull Run. He argues that by touching $20,000 USD, discussion can move from conservative estimates exceeding the number one coin’s incomparable all time high to forecasts of $50,000 USD; from there, breaking $50,000 USD can move the price target to about $100,000 USD.

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