Altcoin analysts are stuck with their price predictions as bitcoin price has to spend time below $17,000. Let’s take a quick look at what analysts have been saying lately.
Santiment analysts predict recovery for Solana as altcoin market continues losses
Firm analysts expect upside moves in the short-term as bearish sentiment surrounds Solana. According to Santiment, the FUD surrounding Solana will help him recover until the heavy bearish sentiment subsides. Analysts sharing the SOL shorts accumulated on Binance predict that this will result in upward movement:
Not many people believe in Solana, even though its price has dropped to $11.22 in the last 15 hours and has risen to $12.70. This FUD could trigger further rally until investors slow down their almost unanimous bets against the price of SOL.
About the market as a whole, Santiment says that past capitulation events have often led to a rebound in prices:
The word dead is fast circulating on crypto platforms in November. As one of the more bearish-sounding words, it’s a sign that investors are giving up on the markets’ recovery. Ironically, this capitulation is historically when markets have recovered.
Litecoin’s 30% rally was whale-based
Analysts are also examining Litecoin’s 30% price increase catalyst last week. They state that this acceleration is a saving spree by addresses holding between 1,000-100,000 LTC:
Litecoin’s price surge may have shocked some of you, but massive address accumulation has been key to watching. In the past two weeks, addresses holding 1,000 to 100,000 LTC have accumulated $43.4 million on the way to the first price increase since May to over $80.
Famous Bitcoin whale set these levels for Litecoin
The popular Bitcoin whale nicknamed Kaleo said in his latest analysis that LTC will likely repeat historical bull runs regarding Bitcoin price after a long period of sluggishness. The analyst predicts that Litecoin has emerged from the bearish channel and is approaching 0.02 in early 2023 from the current value of .0047 on the LTC/BTC ratio chart (BTC at $77.76).
Kaleo then predicts that Litecoin will drop to .005 after peaking. According to the analyst, the breakout pattern first appeared in August, after a drop. It started with a bullish sentiment around the 0026 LTC/BTC level.
Popular altcoin analyst confident post-halivng rally will come
Like Kelao, Smart Contracter predicts that Litecoin will explode with the halving. The Twitter analyst says that LTC follows the similar pattern seen in price activity that leads to Bitcoin halving events.
Statistically, BTC tends to bottom around 500 days before halcing, so this burst of accumulation in LTC starts to make sense considering that this accumulation is already three months old and only 227 days to LTC halcing.
PlanB expects 500% boom in Bitcoin price
Popular analyst PlanB, the inventor of the S2F model, shared new bullish targets for Bitcoin. In a recent interview with crypto analyst Benjamin Cowen, PlanB says that even though current sentiment towards crypto is bearish due to the collapse of FTX, he wouldn’t be surprised if Bitcoin hits $100,000 from the next halcing.
According to PlanB, some of the catalysts that could trigger a massive rally for Bitcoin include the end of the Russia-Ukraine war or the loosening of monetary policies. The analyst says that when these macro events are over, we will easily see $100,000 in Bitcoin. This would mean a 500% rally from current prices. In PlanB’s words:
So, when monetary easing begins or the war in Russia and Ukraine ends, or whatever trigger, we can easily reach $100,000.
The stock-to-flow model predicts changes in value by comparing the current price of an asset with the rate at which its supply is produced. As to whether the crypto market has bottomed out, PlanB says Bitcoin typically hits the low of a bear market about 18 months after touching a record high price. He states that the bottom could form in the next three months. cryptocoin.comAs you follow, BTC is currently trading above $16,500.
