Cardano (ADA) and Ripple’s native token XRP had performed excellently well in the last one week landing the two digital assets a place in the list of Altcoins outpacing Bitcoin (BTC) at the moment, but despite the bull being experienced by large-cap Altcoins a popular strategist CryptoAmsterdam has opined that the end of Altcoin season is in sight.
As at the time of compiling this report Bitcoin is 0.16% down in the last seven days while XRP and Cardano (ADA) over the same period have gained impressively. Cardano (ADA) finished fourth with a gain of over 9.8% according to Coin360, while Ripple (XRP) sat at sixth positions with a gain of over 7.36%. Interestingly, Chainlink (LINK), Tezos (XTZ) and Stellar (XLM) have gained 38%, 17%, and 22% respectively in the last 7 days.
However, popular Analyst CryptoAmsterdam, went on to twitter to share with his followers that he does not believe that the present Bull run being experienced by Altcoin would last long. According to him, the altcoin party will end very soon.
He further explained that Bitcoin has only experienced low volatility for four times in three years, and the lows are usually followed by upsurges of about 50% to 250% in BTC price. CryptoAmsterdam submitted that Q3 has always been bearish in the history of Bitcoin.
Nevertheless, another popular analyst and founder of YouTube channel DataDash, Nicholas Merten, took to the same Twitter to announce that it is Altcoin season, emphasizing that the altcoin market broke a key line of resistance against BTC.
John McAfee rubbish Bitcoin, Declares Altcoins as Crypto Future
Newslogical had earlier reported that Crypto baron and software developer, John McAfee, has tongue-lashed Bitcoin and declared that the future of crypto lies in Altcoin.
The prominent investor named every other coin apart from Bitcoin as “brilliant” and went on to pose some questions to show that Bitcoin is more ‘Shitcoin’ than every other Altcoin in the crypto market.
McAfee frowned at investors who regard Altcoins as “Shitcoins” pointing out that Bitcoin has no security, smart contract, and Dapps makes it the chief Shitcoin.