Trader who sold Bitcoin on top says Ethereum is showing remarkable strength against BTC
A popular crypto strategist known for selling Bitcoin (BTC) at its peak says Ethereum (ETH) is showing unprecedented strength against the crypto king.
Pseudonymous analyst DonAlt tells his 449,100 Twitter followers that the smart contract platform dominates other altcoins in its price relationship with BTC.
“There has never been a coin in crypto history that has been so dominant over BTC over such a period of time. I’m honestly impressed. That’s the kind of dominance you want to see to differentiate yourself from the other altcoins.”
Source: DonAlt/Twitter
Looking at DonAlt’s chart, he shows that ETH/BTC has been trading in the range from a low of $0.569 to a high of $0.0850 since June 2021. At the time of writing, Ethereum is changing hands at $1,263 or ETH/BTC $0.0751.
DonAlt also says he remains bullish on Litecoin (LTC) and has a price target of $100 if it breaks the $80 resistance level.
“There is nothing over $80 but $100. Still long, was a pretty relaxed ride. Nothing has changed, my LTC trade is a high time frame swing trade, please stop asking me for an update every 10 minutes, please stop asking me where to go short.”
DonAlt said in November he bought an undisclosed amount of Litecoin for $60, sold a smaller undisclosed amount for $77, and later bought back what he had sold for $70.
Litecoin is valued at $75.51 at the time of writing.
While selling its bitcoin holdings at the peak price, DonAlt recently bought back bitcoin in the low-$16,000s for the “long-term”.
Bitcoin is currently changing hands at $16,819.
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