Bitcoin Prepping for Parabolic Move to $100,000 As Altcoin Season Peaks, According to Crypto Analyst

A popular analyst is impressed with how well altcoins are performing against Bitcoin (BTC), but believes the cryptocurrency king could reach an all-time high. increase.

Anonymous host of InvestAnswers To tell His 443,000 YouTube subscribers believe that while 94% of altcoins are currently outstripping Bitcoin on the BTC dominance chart, they have peaked and BTC is poised to rise again. increase.

If 75% of the top 50 coins outperformed Bitcoin in the last 90 days, it would be altcoin season, well above 75%, so that would be pretty staggering.

Pretty impressive but what goes up comes down so expect bitcoin dominance to rise again soon. I’m watching the

The BTC Dominance Chart tracks how much of the cryptocurrency market capitalization belongs to Bitcoin. Bullish BTC Dominance Suggests Bitcoin Is Rising Faster Than Other Crypto Assets Or Altcoins Are Losing Value While Major Cryptos By Market Capitalization Are Surging increase.

The analyst then discusses Bitcoin’s recent call to the top six numbers made by Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence.

McGlone believes oil prices will drop below $50 a barrel, global deflationary pressures will push gold above $2,000 an ounce, and bitcoin to $100,000.

A host of InvestAnswers had this to say about McGlone’s prediction:

“Here, I’ve added some extensions to how we might get to $100,000.

when can i get there? Probably by the summer of 2023. it would look like that. But first we have to get back to all-time highs.

For Mike to hit his fist on the table and say, “It’s only a matter of time.” Let’s see.

McGlone made similar $100,000 BTC predictions in both January and March of this year.

At the time of writing, Bitcoin is priced at $24,356.

Me

Don’t Miss a Beat Subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Comdas/INelson