Rajarshi Mitra
Independent Analyst
- Analyst Peter Brandt says that BTC is on a slow but steady trajectory toward $100,000.
- One of the earliest Ethereum whales may be gearing up to sell their Ether tokens.
Peter Brandt, a crypto trading legend and veteran analyst, believes Bitcoin is holding the line on the crucial level of support. Brandt said that Bitcoin’s sudden rise aligns with his analysis that BTC remains in a long-term uptrend. In an earlier episode of Bitcoin Live, he stated that he believes BTC is on a slow but steady journey toward $100,000.
The big picture in Bitcoin remains that we are in a historic bull trend. And we can see that in a sequence of higher highs [and] higher lows. I believe in the long-term narrative of Bitcoin – that Bitcoin is, indeed, going to $100,000, if not substantially more. I buy the long-term bullish narrative in Bitcoin based not only on what I understand to be the fundamentals but also what I see to be the overall classical chart context of the market.
Meanwhile, Ethereum is rising along with BTC. Apparently, one of the earliest Ethereum whales is looking to sell off their Ethers. Alex Svanevik, the founder of the crypto data science company D5, said that the “mysterious trader” might be planning to sell 60,000 ETH that was purchased during Ethereum’s ICO in 2015.
The third-biggest crypto asset on the market, XRP, is also rallying. Credible Crypto, an analyst, tweeted that he thinks XRP will rebound but will take longer time than other cryptocurrencies.
XRP was the best performing asset during the last bull run, I think it’s allowed to take a little longer than the rest to get ready for the next round, no? You’d still be up 3x in USD terms had you invested in XRP over BTC prior to the last bullrun, even at its current state.
On a closer look it does look like some alts did perform better than XRP, not sure why they weren’t included in any of the lists I’ve found online. Regardless, it doesn’t change the fact that XRP was still one of the best performing assets of 2017. Even the best has to rest.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle (PENDLE) price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.
Ethereum shows signs of a potential rally as suspected Justin Sun wallet buys heavily
Ethereum's (ETH) recent price movement hints at a potential rally despite ETH ETPs recording outflows. The recent price improvement follows the fourth Bitcoin halving and a suspected Justin Sun wallet purchasing large numbers of ETH.
Floki poised for growth after listing on Revolut
Floki's (FLOKI) team announced in an X post on Monday that the meme coin would be listed on the popular neobank and Fintech platform Revolut. Floki could rise further following key partnerships to boost retail usage.
Jupiter DEX second Launchpad vote concludes, JUP price rises 5%
Jupiter, a Solana-based decentralized exchange (DEX) has completed the second launchpad (LFG) vote to identify the two projects that will debut on its platform. On March 30, the aggregator network had unveiled its Core Working Group (CWG) budget proposal voting.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?