- Analyst Peter Brandt says that BTC is on a slow but steady trajectory toward $100,000.
- One of the earliest Ethereum whales may be gearing up to sell their Ether tokens.
Peter Brandt, a crypto trading legend and veteran analyst, believes Bitcoin is holding the line on the crucial level of support. Brandt said that Bitcoin’s sudden rise aligns with his analysis that BTC remains in a long-term uptrend. In an earlier episode of Bitcoin Live, he stated that he believes BTC is on a slow but steady journey toward $100,000.
The big picture in Bitcoin remains that we are in a historic bull trend. And we can see that in a sequence of higher highs [and] higher lows. I believe in the long-term narrative of Bitcoin – that Bitcoin is, indeed, going to $100,000, if not substantially more. I buy the long-term bullish narrative in Bitcoin based not only on what I understand to be the fundamentals but also what I see to be the overall classical chart context of the market.
Meanwhile, Ethereum is rising along with BTC. Apparently, one of the earliest Ethereum whales is looking to sell off their Ethers. Alex Svanevik, the founder of the crypto data science company D5, said that the “mysterious trader” might be planning to sell 60,000 ETH that was purchased during Ethereum’s ICO in 2015.
The third-biggest crypto asset on the market, XRP, is also rallying. Credible Crypto, an analyst, tweeted that he thinks XRP will rebound but will take longer time than other cryptocurrencies.
XRP was the best performing asset during the last bull run, I think it’s allowed to take a little longer than the rest to get ready for the next round, no? You’d still be up 3x in USD terms had you invested in XRP over BTC prior to the last bullrun, even at its current state.
On a closer look it does look like some alts did perform better than XRP, not sure why they weren’t included in any of the lists I’ve found online. Regardless, it doesn’t change the fact that XRP was still one of the best performing assets of 2017. Even the best has to rest.