Bitcoin (BTC) dominance in crypto markets is about to intensify, spelling trouble for altcoins, says a widely-followed cryptocurrency analyst.
pseudonym analyzer kaleo warned His 570,900 Twitter followers are running out of time to move their altcoin investments into bitcoin before alts perform worse.
Kaleo is predicting BTC dominance, based on the ratio of its market cap to cumulative cryptocurrency market cap, will soon increase to around 52% from its current 47.48% in April.
“Bitcoin dominance still looks incredibly bullish. Here’s the deal – you have until BTC breaks above $30,000 to pivot your alts into bitcoin, because after that – the bleeding accelerates. Is.
Source: Crypto Kalio/Twitter
buds They say Bitcoin’s performance is looking strong recently as it bounced off the $27,500 level and is now heading back towards the $29,000 level it briefly held back earlier this week.
“And boom that’s how it bounced off $27,500.
Now is the time to slowly move back higher, reclaim $29,000, and initiate an acceleration to a full sendoff.
Kaleo’s chart indicates that he is predicting that bitcoin will reach $30,000 by April 5th.
Bitcoin is trading at $28,495 at the time of writing, up almost 1% over the past 24 hours.
Following this, Kaleo set his sights on Ethereum (ETH), saying that he is fast With diagonal break out on smart contract platform Both Lower time frame and higher time frame charts.
“ETH Retesting 2023 Highs. Please tell me in what world this chart looks Bearish…
There is no way you can look at both the LTF chart above and the HTF zoomed out and not tell me this is bullish.
Ethereum is priced at $1,832 at the time of writing, up 2.7% over the past 24 hours.
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source: dailyhodl.com
