Trader Peter Brandt has hinted on the positive outlook of altcoins against Bitcoin in the nearest future, giving much emphasis on Ethereum’s growth as altcoins trend higher in the crypto market.
$9,300 seems not a barrier for Bitcoin anymore as the leading cryptocurrency went past $9,400 resistance against the US Dollar and the daily chart of BTC signals that the bullish force is aiming at a bigger rally above $10,000.
Nevertheless, altcoins have been trending bigger and better in the market, and Bitcoin’s dominance has equally been dropping.
In anticipation of the emergence of the altseason and the display from the alternative cryptocurrencies, veteran trader Peter Brandt analyzed that against Bitcoin, Ethereum has presented significant breakout. He illustrated that ETH/BTC trade pair surpassed $0.02561 level and another break above $0.02613 was also seen. Brandt observed this, after analyzing the trend of altcoins in the market.
The Bayesian trader in a chart caption that in the short term, ETH will reach the level of $0.02851 against BTC. Brandt added that ETH targets a high value of 0.03276 against BTC.
The septuagenarian utility chartist further expressed that altcoins have a better look at present, with a brighter future against Bitcoin.
He asserted that most altcoins “should gain on Bitcoin.” The prediction caught the attention of many crypto lovers on Twitter as Peter Brandt has always been prudent with his forecast, especially in the crypto market.
For quite some time now, Peter Brandt, a trader of classical charting principles since 1980, has been known for making ill statements against XRP and the price of the cryptocurrency. The numerous refutation Brandt had issued against XRP prompted one of his followers to inquire if XRP is also among the altcoins the trader said would rise high against Bitcoin.
Edu Jimenez said to Peter Brandt: “What bout [sic] XRP?” and the veteran trader replied that XRP is also expected to grow higher.
Peter Brandt Suggests What to Expect If XRP Goes Above 0.3038
In recent times, the prominent trader, Peter Brandt, urged millennial and generation X not to put their trust in XRP but rather vest their money in estate and put not less than 10% of their net worth in Bitcoin. Also in another statement, the trader said the fourth-largest cryptocurrency by market cap is worth nothing than giving it out for free.
However, in October 2019, the trader explained that once XRP closes above $0.3038, rise to the level of 0.4691 would be possible for the cryptocurrency. At that time, he compared the XRP trend pattern to a clean diamond.