A cryptocurrency executive said that despite the growing influence of institutional investors, sticking to the model of historical crypto cycles can still pay off for retailers.
“If you do your analysis, follow the pattern and take an emotionally unanswered approach, you’ll do a great job in the cryptocurrency space,” Mena Theodorou, co-founder of Australian cryptocurrency exchange Coinstash, told Cointelegraph on Tuesday.
Premium Coins “Catch up and do their little things”
“I just follow the pattern of what happened in the past,” Theodoru said. He hopes this cycle is no different in Bitcoin places (BTC) will reach new highs, and its dominance will peak before traders move to Altcoins.
“When bitcoin slows down, you’ll see it kind of fall off,” Theodoru said.
“And then in the playoffs, you’ll see a run along the way. At some point, all the members start going crazy.”
Signs suggest that Bitcoin may approach its local top after reaching a new high of $123,100 on July 14, with its advantage dropping by 7.44% over the past 30 days. Ether (Ethereth) – often looking for signs of capital rotation – grew 20% during the same period, according to to TradingView data.
Meanwhile, CoinMarketCap’s Altcoin season indexaims to measure the market’s appetite for Bitcoin and altcoins and switched from “Bitcoin Season” to “Altcoin Season” on Sunday.
Arthur Hayes says ETH will “tear the market”
While some analysts are making familiar predictions based on past cycles, others don’t believe Bitcoin will lose momentum.
Arthur Hayes, co-founder of Bitmex explain On Tuesday, “the upcoming Ether Bull is about to tear up new bastards in the market”, which is expected to hit $10,000 by the end of this year.
“Ether has been the most hated big cryptocurrency since Solana rose from $7 to $280 from FTX Ashes,” Hayes added.
Related: Bitcoin liquidity war continues, but BTC price target remains $140,000
But, he said, the outlook began to change, pointing out Fundstrat’s Tom Lee’s recent bullish on ether.
Strategy co-founder Michael Saylor holds a different belief that Bitcoin won’t see any downside. “Winter hasn’t come back,” Saylor said on June 11. “We’ve passed the stage; if Bitcoin doesn’t reach zero, it’s going to reach $1 million.”
Meanwhile, Xapo Bank CEO Seamus Rocca tells Cointelegraph Earlier this month, the risk of a prolonged bear market is still very real and there is no need for a “disastrous” event to trigger it.
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This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
