The co-founders of crypto analysis company Glassnode believe that altcoins will follow the rise of BTC and Ether.
Sharing on X, co-founders Jan Happel and Yann Allemann emphasized that the total altcoin market value is currently rising and this means an increase for altcoins as well.
“How long will altcoins remain on the back burner before taking action? Bitcoin continues to lead the market, but a closer look shows that total altcoin market cap is also catching up. “We are on the cusp of a potential altcoin rally, with Ether and BTC leading the way.”
Happel and Allemann claimed that volatility in the Bitcoin price will increase but the rally will continue.
The duo stated that the leading crypto may drop to $ 40,000, but the uptrend will continue.
“Technically speaking, Bitcoin is heading towards $46,000. “We expect variable movements between $40,000 and $46,000.”
At the time of writing, Bitcoin is traded at $43,818, according to Bitstamp data.
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