© Reuters. Bitcoin vs Altcoins: Bitcoin Will Outperform Altcoins in Q4
- Crypto trader shares his prediction for the BTC price over the next couple of months.
- He says that is forming a double bottom pattern and a massive uptrend is imminent.
- However, according to him, when this happens, it won’t bode well for altcoins.
Twitter (NYSE:) is once again in a frenzy over another Bitcoin-related Twitter post. In detail, the post analyzes Bitcoin’s price performance over the next few months.
The chart analysis comes from a known crypto and Bitcoin trader — Carl. His Twitter and YouTube channel are called The Moon, as that’s where he intends to take his crypto investments.
With over 500,000 followers on both platforms, Carl has made quite a name in the crypto social media space. Below is the video he shares via a tweet.
#Bitcoin is destroying alts right now!!!https://t.co/ZLsy7Vkjoj
— The Moon (@TheMoonCarl) October 12, 2021
From the post, we know that the video talks about how Bitcoin is outperforming all altcoins at this moment. This goes in line with every crypto and Bitcoin analysts’ prediction of the price of Bitcoin surpassing $100,000 by the end of this year.
However, the difference comes in the analysts’ belief in whether or not altcoins will do well or poorly in relation to Bitcoin’s performance over the next few months. While some believe the price of altcoins will also go up along with Bitcoin like they usually do, Carl’s opinion differs.
In particular, Carl says that Bitcoin is forming a dominance on the charts. More specifically, Bitcoin shows a double bottom pattern which means the price of Bitcoin could very well surpass the next resistance level.
If this is true, and Bitcoin surpasses the next resistance level, then the Bitcoin community may soon be celebrating a new ATH for Bitcoin. According to the charts, Carl says that a massive pump for Bitcoin is imminent.
However, Carl believes that if this is true and Bitcoin breaks resistance or shoots up into an upward trend, then it could be very bad for altcoins. Although, he does add that this could also not play out as he predicts.
One of the reasons could be that the volume of Bitcoin isn’t as high to support a massive surge. Still, this does not make a huge enough impact to cancel out the bull run. If anything, it will likely slow down a little. All in all, according to Carl, a breakout for BTC is most likely and altcoins may have to watch out.
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