Price Analysis 7/10: BTC, ETH, XRP, BCH, BSV, ADA, LTC, BNB, CRO, EOS
Cointelegraph
Published Jul 10, 2020 02:50PM ET
Updated Jul 11, 2020 09:40PM ET
Veteran trader Peter Brandt believes that a new altcoin season is likely to start in the near future and he predicted that altcoins are likely to outperform Bitcoin (BTC) during this next run. In the short-term, altcoins could embark on a rally without the support of Bitcoin but in the long-term it is unlikely that altcoins will rally if Bitcoin struggles to move up.
On July 9, the S&P 500 corrected and that resulted in a drop in Bitcoin, which shows that the correlation between the two remains intact. As Bitcoin broke below $9,200 level, it attracted profit booking from altcoins and pulled their prices lower.
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Written By: Cointelegraph
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