Altcoin experts Aaron and Austin Arnold evaluated Bitcoin price and the current market situation. Explaining their views in a broadcast they attended, the two brothers said that an altcoin project has the potential to lead to a new bull run. Here are the details.
Bitcoin will make ATH by this date
Aaron Arnold made various predictions about the price of Bitcoin in the broadcast he participated in. The altcoin expert stated that the leading cryptocurrency will make a new high by 2025, at worst. “Even for this year alone, I am betting on Bitcoin bullishness,” the analyst said. However, both brothers share the same idea that the crypto winter will end soon. They said that a combination of macroeconomic factors and politics will cause the price of Bitcoin to soar. They also stated that an altcoin project will end the current decline and return the market to a bullish trend.
“This altcoin will lead the bull run”
After evaluating the Bitcoin price, the brothers talked about altcoins and current market conditions. Accordingly, the leading altcoin Ethereum (ETH) will take its place as a pioneer in any market rise. In fact, the market has been under intense selling pressure lately. Crypto hedge fund Three Arrows Capital liquidated its holdings amid a wider sell-off in crypto holdings. Besides that, Crypto loan firm Celsius has paused its transactions. As cryptokoin.com reported, from the beginning of 2022 to today, Bitcoin has dropped more than 55 percent. The losses in the leading altcoin Ethereum are over 70 percent.
Still, the expert brothers have a very hopeful view of the market and heavy selling pressure. “A lot of people we see coming to BTC from 2020 to 2021 are not Bitcoiners,” Aaron said. He then claimed that these investors were big whales, hedge funds, and traditional finance people. According to him, the aforementioned investors view Bitcoin as similar to a technology stock or a risk asset. Therefore, they start selling on any dip. Additionally, the brothers said that the bulk of the current sales are due to liquidation of institutional crypto investors. He also claimed that the LUNA-UST collapse was a big reason for sales.
Bitcoin and Ethereum
The altcoin brothers reiterated their view that Bitcoin has a strong value proposition. For Austin BTC, “You hear bitcoiners say ‘it’s not your keys, it’s not your coins’. This is because cryptocurrency is your sovereignty over your own existence,” he said. Also, “we are in these times of uncertainty in bear markets. Yet Bitcoin is still a decentralized, permissionless, immutable, fixed supply of money.” he added. Altcoin experts have criticized many altcoins for being a product of hype. But they were optimistic about Ethereum. They explained the reason for this as Ethereum will soon switch to the Proof-of-Stake algorithm with an upgrade.
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