While Bitcoin remains the market leader, analysts don’t believe in a rapid update of ATH and have high hopes for the Ethereum rally.
Bitcoin Dominance is rising above 46%, while ETH’s share has declined slightly. However, this is only a pause, ETH will rise until it outperforms BTC in capitalization, experts say. A top trader with the nickname Inmortal says that the flipping of the two leading cryptocurrencies is inevitable. At the same time, bitcoin will grow and update the all-time high (ATH), the expert believes. But before this soar, the leading cryptocurrency is expected to cool. Further growth to $60K is possible in September and the ATH update will be in November.
However, the second cryptocurrency will demonstrate better dynamics, notes Inmortal. Therefore, BTC and ETH will flip. Inmortal notes:
– A flippening is in the cards for the leading smart contract platform. This consolidation will come to an end soon. The flippening is knocking the door.
Inmortal does not specify when the leader of the crypto market will be changed. If bitcoin really updates ATH, then its capitalization will reach $1.217 trillion. To become the first in terms of capitalization, Ethereum will have to grow 3.3 times. It’s not easy, but it’s possible. After all, ETH has already grown almost 4.3 times since the beginning of the year, starting from $735.93. The trader himself is probably not ready to wait long and pays attention to another large-cap cryptocurrency.
Bitcoin’s fork Litecoin (LTC) will soon soar to $200, according to the expert. This means an increase of 22%. Inmortal notes:
– Last warning, LTC is going to explode.
Other experts agree with Inmortal’s long-term prediction for bitcoin, but only partially. After breaking up through the $45K resistance level, BTC will continue to rise, but will not update the ATH. In any case, many people believe that the new bitcoin ATH will not be reached before 2022. The positive sentiment currently prevailing in the market could lead BTC to a price of $52-55K. And at this level, consolidation awaits us for several months before a new breakthrough.
But there is also an optimistic forecast: if bitcoin remains in the range of $40-50K until September, then in the fall the market may grow rapidly, as has happened already in history. The chances of a fast ATH update increase in this case. The BTC target could be $70-80K by the end of the year. And the flippening of the two leading cryptocurrencies will be delayed for the more distant future.