Evaluating the crypto money market, strategist Scott Melker argued that altcoin prices will continue to strengthen against Bitcoin.
In a statement made on Twitter on April 14, Melker suggested that Ethereum (ETH), Litecoin (LTC) and XRP prices will strengthen compared to BTC, which is the largest cryptocurrency.
“It is not Bitcoin that will make people madly rich, but altcoins.”
Melker, known as The Wolf Of All Streets on Twitter, explained that the Bitcoin price first rose and then fell after Coinbase was listed on the exchange:
“It is an ordinary situation in the trade market. When trading, you do not put orders at full price. You put them up or down a little. So you catch the price. Even if you do not get the position fully, you will not be swallowed by the whales.”
Stating that if the bitcoin price drops below $ 62,000, $ 60,000 can be retested, the trader emphasized that altcoin prices will move stronger, although the BTC price is expected to rise. TweetHe wrote in his:
“Bitcoin is the most important asset ever created. If I had to choose something to invest, it would be BTC. If you are a trader, not an investor, the upward movement will probably be in altcoins. They are much more likely to make the person insanely rich.”
On the other hand, the trader, who predicted that Litecoin will reach $ 347 in the near term, argued that he expects an increase in the price of XRP regardless of the outcome of the US Securities and Exchange Commission (SEC) lawsuit against Ripple.
$ ETH apparently missed the Coinbase dump memo.
— The Wolf Of All Streets (@scottmelker) April 14, 2021
The trader, who opened a separate bracket to Ethereum among the examples of altcoins he gave, underlined that the second largest cryptocurrency had a rapid rise against BTC.