Not Bitcoin, This Is One Of The Cryptos That Will Be Bullish According To Market Analysts

These are the Altcoins that are predicted to go up (Express)

JAKARTA – In the midst of the falling Bitcoin price in the last few days, an analyst and crypto trader with the pseudonym Credible revealed that one of the altcoins will re-enter a bullish trend.

He told his 275,300 Twitter followers that Ethereum had a strong performance amid a massive crypto market correction. Credible mentions that the Ethereum ETH/BTC pair will initiate a rise in crypto prices.

“I'm optimistic on Ethereum as well as in general, as long as we hold this monthly support 0.075 BTC ($3,662). I want to show you guys at the big drop we just saw, Ethereum/Bitcoin is holding up beautifully… This is when alt (altconin) is leading, when alt is starting to shine, guys,” he said.

The analyst also said that if it is currently in a bearish phase, the ETH/BTC pair will not increase when Bitcoin falls.

“If this was a bear market, Ethereum/Bitcoin wouldn't be showing up right now when Bitcoin is correcting. It's going to fall really, really hard. It holds support. We are confident – bullish,” he added.

Moreover, Ethereum's bullishness will drive altcoins to recover. Credible believes Ethereum will initiate a bullish altcoin trend.

“I think alt will recover from this decline harder than Bitcoin. I think, in particular, Ethereum will do very well.”

According to The DailyHodl, at the time of writing the ETH/BTC pair was trading at 0.086 BTC or the equivalent of 4,224 US dollars (around Rp. 60,947,673), up more than 11% in the last 24 hours. Credible also believes that Bitcoin will be bullish again despite a major crash a few days ago where BTC was forced to plummet to 43,500 US dollars in less than an hour. He also believes that yesterday's crash in BTC prices marked the end of the massive correction phase.

“I believe we are now completing that flat correction. The expectation is that we put higher lows above the lows at $30,000 and everything above that is OK, and I think that's what we're seeing now."

At the time this news was written, data reports from Coingecko explained that Ethereum was trading at a price of Rp. 60,457,521. Ethereum started a 0.2 percent increase in price in the last 24 hours.