Amid cryptocurrency market instability, analysts forecast further altcoin swings until Bitcoin reaches the $100,000 mark.
Analysts' Views on Altcoin Prospects
Pav Hundal, lead analyst at Swyftx, noted that most altcoins will remain 'choppy' until Bitcoin hits a six-figure level, despite some memecoins outperforming Bitcoin.
The Role of Bitcoin Dominance
Hundal believes Bitcoin dominance could reach the 65-70% range before declining, playing a crucial role in stabilizing the altcoin market, but shifts will require significant capital inflow.
Concerns and Expectations of Major Investors
CryptoQuant CEO Ki Young Ju warns that the current Bitcoin rally is driven by institutional investors, with little interest in speculative tokens. For altcoins to reach new highs, substantial new investments will be needed.
As Bitcoin continues to dominate the market, altcoins remain volatile. Investors await Bitcoin's breakthrough to a six-figure territory to see more stable changes in altcoin markets.
