Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning

After days of slow movement, the altcoin market is starting to recover. Popular said Ethereum is one of the reasons behind this change. Ethereum has been performing better against Bitcoin lately and this shift has helped altcoins.

However, he also warned that the Bitcoin dominance chart shows signs of a trend reversal, which could lead to sudden changes in the market. Even though altcoins are showing some strength, sharp price drops are still expected.

“The altcoins are likely going to have severe corrections (like last week), which can be utilized to accumulate more,” the analyst said.

For more than two weeks, Bitcoin has been moving within a narrow price range. But since the market has already tested the lower end of this range, the analyst said that a push toward higher levels could be next.

If that happens, the market might even see a new all-time high for Bitcoin as early as next week.

Both OP and TIA are important players in the Ethereum ecosystem.