Pav Hundal Analyzes Bitcoin's Influence on the Altcoin Market

user avatar

by Giorgi Kostiuk

2 years ago

Pav Hundal, lead analyst at Swyftx, shared his views on the future of altcoins and their reliance on Bitcoin's movements. The analyst believes altcoins will continue to exhibit high volatility until Bitcoin reaches the $100,000 mark.

Bitcoin's Influence on Altcoins

Swyftx analyst Pav Hundal emphasizes that altcoins are in a cycle of massive gains and pullbacks, awaiting Bitcoin's 'exuberant move.' Despite several coins, including memecoins, outperforming the top cryptocurrency, altcoins will remain shaky until Bitcoin demonstrates a significant shift. For instance, Solana showed a 13% gain in one day but lost most of its achievements the next day. The Pepe memecoin surged 93% after its addition on Coinbase, but shed over 22% the following day.

The analyst also suggested that the memecoin could manage '800% days' as seen in Dogecoin's previous cycles.Pav Hundal

Predictions on Bitcoin Dominance

Hundal added that lower BTC dominance would favor altcoins rallying and might trigger the altcoin season. According to CoinMarketCap data, current BTC dominance is about 57%. However, it could increase to 70% before declining. Independent X trader Mikybull Crypto believes that Bitcoin's dominance might decline sharply beginning next month. CryptoQuant CEO Ki Young Ju also noted that the altcoin season starting now will be different from the previous ones due to high institutional demand for cryptocurrencies.

Analysts Discuss Bitcoin Predictions

A recent Bloomberg report suggested that Bitcoin might soon cross the $100,000 mark. Possible growth factors include ongoing support for cryptocurrencies from president-elect Donald Trump. Various analysts, including OKX's global chief commercial officer Lennix Lai, agree with these predictions. Ki Young Ju projected that BTC could reach $135,000 by 2025 and rise to around $122,000 by the end of this year. eToro's market analyst Josh Gilbert also expects BTC to exceed the $100,000 milestone by year's end due to increased institutional interest.

Pav Hundal and other analysts predict that the fate of altcoins in the near future will be closely linked to Bitcoin's dynamics. The impact of institutional demand and economic changes could significantly influence the further development of the cryptocurrency market.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Cardano Reports Progress on Leios Scaling Design in Latest Development Update

Cardano's November 6 development report highlights progress on the Leios scaling design, focusing on endorserblock production and chain selection checks.

user avatarAisha Farooq

XRP Momentum Indicators Show Oversold Conditions

XRP has faced significant selling pressure, with its RSI down to 26, indicating oversold conditions and potential for recovery.

user avatarBayarjavkhlan Ganbaatar

Analyst Identifies Potential Recovery for XRP Price

Analyst Ali Martinez identifies a descending channel pattern suggesting XRP could recover towards 130, contingent on the 114 support level holding.

user avatarMohamed Farouk

FCA Opens Application Window for Banks to Enter Regulated Crypto Activities

The Financial Conduct Authority (FCA) has announced that wholesale banks can apply to extend their permissions into regulated cryptoasset activities under the new UK framework.

user avatarElias Mukuru

Legislative Focus on Bitcoin Reserves Expected in 2027

Legislative focus on Bitcoin reserves is expected in 2027 as lawmakers in Florida and Texas prepare for new sessions, with key figures like Byron Donalds and James Talarico potentially influencing future policies.

user avatarDiego Alvarez

Bipartisan Support for Bitcoin Reserves Emerges After 2026 Midterms

Bipartisan support for Bitcoin reserves has emerged following the 2026 US midterm elections, with officials from both parties in Florida and Texas advocating for government-held Bitcoin reserves.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.