A popular crypto strategist known for selling Bitcoin (BTC) at its peak says Ethereum (ETH) is showing unprecedented strength against the king crypto.
Pseudonymous analyst DonAlt tells his 449,100 Twitter followers that the smart contract platform is dominating other altcoins in its price ratio with BTC.
“There has never been a coin in crypto history that has been so dominant against BTC over this kind of timeframe. I’m honestly impressed. This is the kind of dominance you want to see to separate yourself from the other altcoins.”
Looking at DonAlt’s chart, he shows ETH/BTC since June 2021 trading in the range of a low of $0.569 to a high of $0.0850. At time of writing, Ethereum is changing hands at $1,263, or ETH/BTC $0.0751.
DonAlt also says he remains bullish on Litecoin (LTC), setting a price target of $100 if it breaks through the $80 resistance level.
“Above $80 there is nothing besides $100. Still long, been a pretty chill ride. Nothing has changed, my LTC trade is a high timeframe swing trade, please stop asking me for an update every 10 minutes, please stop asking me where to short.”
DonAlt said in November he purchased an undisclosed amount of Litecoin at $60, sold a lesser undisclosed amount at $77, and later rebought what he sold at $70.
Litecoin is valued at $75.51 at time of writing.
While DonAlt sold his Bitcoin holdings at peak price, he recently bought back Bitcoin in the low-$16,000 range “for the long term.”
Currently, Bitcoin is changing hands at $16,819.
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Source: https://dailyhodl.com/2023/01/06/trader-who-sold-bitcoin-at-the-top-says-ethereum-is-showing-remarkable-strength-against-btc/