A popular crypto strategist says that the current Bitcoin ( BTC ) rally is mirroring a pattern that preceded the king crypto’s massive eruption in 2019.
Pseudonymous analyst Smart Contracter tells his 218,100 Twitter followers that Bitcoin is likely to dominate the crypto markets in a repeat performance of its 2019 burst.

“BTC finally broke its $18,400 horizontal highs. BTC dominance going on run and most conditioned to be all in alts. [Definitely] starting to feel more and more like an April 2019 moment every day.”
Source: Smart Contracter/Twitter
BTC opened in April 2019 at $4,102 and ended in June 2019 having hit a high of $13,970 – a 240% gain.
Smart Contracter’s charts also include the Bitcoin Dominance index (BTC.D). The BTC.D chart tracks how much of the total crypto market capitalization belongs to Bitcoin. A bullish BTC Dominance suggests Bitcoin is rising faster than other crypto assets, or altcoins are losing value while the leading crypto surges.
In a strategy session video update, the analyst says that for now, traders should keep a close watch on Bitcoin.
“I do believe Bitcoin is going to outperform alts… Bitcoin dominance looks like it’s having a nice strong bounce here. I think this is a fairly significant move on Bitcoin dominance. It’s obviously still in an uptrend. So I do think Bitcoin dominance is going to outperform. Now that we’ve got confirmation, in my opinion, that Bitcoin is going to go higher, I think it’s going to be time to focus on Bitcoin and not alts.”
At time of writing, Bitcoin is valued at $20,956, up over 11% in the last 24 hours.

I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

 


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Top Crypto Analyst Says Bitcoin Mirroring 2019 Pattern That Preceded Massive 240% Rally – Here Are His Targets appeared first on The Daily Hodl .