A cryptocurrency analyst who predicted the major collapse of Bitcoin (BTC) at around $ 4,000 earlier this year says a major altcoin rally is approaching.
The anonymous analyst, known as il Capo Of Crypto, shared his predictions of Bitcoin 's market dominance to 29,000 Twitter followers . The analyst used the following statements:
“I think Bitcoin dominance will drop to 50% in the coming weeks. That means GREAT altcoin season. "
The analyst sees XRP as one of the main altcoins he is particularly considering. He says that the third largest cryptocurrency experienced a clean break in a symmetrical triangle that formed when it hit a last year's high of $ 0.76. In a few weeks, he predicts that XRP will be at $ 1.00 and experience a return to an all-time high when it breaks the historical resistance of $ 1.18.
The analyst's latest chart shows that XRP returned to its all-time high of $ 2.80 in May of next year.
The trader also continues the bullish sentiment in Bitcoin after the massive rally that hit an all-time high of $ 23,642.
"If BTC continues to follow this path, we will not see under $ 20,000 again."
In the short term, Capo believes BTC can fix the $ 22,000 low region before rising to $ 24,750.
