Bitcoin (BTC) Dominance to Fall, These Three Altcoins to Benefit: Trader

News
Thu, 06/25/2020 - 13:39
Vladislav Sopov
Anonymous trader and analyst Parabolic Thies (@KingThies) predicted a rise in the ETH/BTC price and lists three altcoins that may benefit from a BTC decline
Cover image via stock.adobe.com
Contents

Seasoned trader and analyst who goes by Parabolic Thies (@KingThies) has tracked the performance of crypto behemoths (top altcoins) and made a couple of predictions about their prices against Bitcoin (BTC).

Upsurge is in the cards for Ethereum (ETH)

According to a prediction posted in a tweet by Parabolic Thies, the Ethereum (ETH) price is preparing for a decisive upmove against Bitcoin (BTC). This forecast is based on the Market God integral indicator designed by said trader.

Image via Twitter

As showcased on his 1D chart, the ETH/BTC price is going to exit an 'Ascending Triangle', which was formed in mid-March. The 0.028 level is key for this upsurge.

This level is very close to the yearly high of the ETH/BTC price. So, if it manages to blast above 0.028, this would definitely mean bullish control over the price.

Also, he supposes that Ethereum (ETH), Litecoin (LTC) and XRP are three altcoins that would benefit most if Bitcoin (BTC) plummets.

Bitcoin (BTC) dominance at a crossroads

It looks like another prominent analyst, Qiao Wang, formerly from Messari, doesn't agree with the trader. He sees Bitcoin (BTC) dominance rising more than 90% during the ongoing market recession. This maximalist opinion is supported by the anonymous trader, TheMoonCarl.

Also, Mr. Wang claims that the euphoria surrounding decentralized financial applications will re-organize the list of the Top-10 cryptocurrencies by market cap. And XRP and Litecoin (LTC) will be the first to leave the premier league, Mr. Wang predicts.

Blockchain evangelist Max Keiser of Russia Today is another expert who is highly skeptical of the performance of the crypto behemoths.

In his recent exclusive interview with U.Today, he highlighted the 'exit scam' essence that reflects the ideas behind the majority of popular altcoins.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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