It seems that the optimistic Bitcoin and crypto price predictions continue to pour in the crypto space.
Altcoin bull run and BTC to head to $6,000
Now, crypto trader and author of An Altcoin Trader’s Handbook said that he believes we’re at the start of an altcoin bull run.
The Daily Hodl revealed that Nik Patel who boasts about 70k Twitter followers expects altcoin to “experience a bull cycle, while BTC remains fairly stable and largely range-bound.”
In his opinion, this is mostly because most altcoins have lost 90% of their value in the bear market.
“BTC can be bought cheaply to finance altcoin movements, and prices against BTC can be driven up higher because of the smaller market caps, securing greater profits,” he says.
He also said that the bull run for the altcoins would not be like the last one and he encouraged traders to make sure to take advantage of it.
To conclude, this is what I believe will occur from here on:
ALTBTC prices will experience a bull cycle, whilst BTC remains fairly stable and largely range-bound. BTC will break above the range, leading to a larger move towards $6k resistance, during which alts will be sold off.