With the cryptocurrency market expected to enter a bull run later this year, Bitcoin, along with altcoins, are already expected to respond. While cryptocurrency investors eagerly await this rally, one cryptocurrency analyst has revealed where they expect the prices of six cryptocurrencies to go.
Bitcoin and Altcoins are set to move
As Bitcoin and altcoins begin to rise, Crypto analyst Emily revealed the direction in which she expects the prices of major cryptocurrencies to head. The analyst starts with Bitcoin, giving it a high price before moving on to other altcoins.
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As for Bitcoin, Crypto Emily believes the price of the first cryptocurrency will rise to $100,000, joining the ranks of Bitcoin believers who believe this is possible. From the current price, the price movement of the leading cryptocurrency is less than 50%, which indicates that it is possible.
Moving on, the cryptocurrency analyst turns her attention to altcoins. The first altcoin is Ethereum, which is the second largest cryptocurrency on the market. Although Ethereum failed to break the $4,000 level, the cryptocurrency analyst predicts that the altcoin price will eventually reach $10,000 as it is inevitable.
This bullish trend continues in the larger altcoins alongside Bitcoin and Ethereum. For example, Crypto Emily offers similar forecasts for both the Solana price and the BNB price. She expects Solana to rise another 600% to $1,000 from here, and then BNB to rise roughly 50% to reach the same $1,000.
Moving forward, the next altcoins to make the list are XRP and Polygon's MATIC. The cryptocurrency analyst believes that these two digital assets will eventually reach $10, which is a similar price increase for both. However, what is more interesting is how these two altcoins have performed over the past year.
$100k is inevitable #Bitcoin
$10k is inevitable #Ether
$1000 is inevitable #Sol & #BNB
$10 is inevitable $XRP & $MATIC
What are your goals?
– Emily’s World 💎 (Crypto__emily) June 2, 2024
While the likes of Bitcoin and Ethereum have seen a huge rally this year, both XRP and MATIC have failed to make any meaningful moves. XRP price is still 83% below its all-time high of $3.84, and MATIC is down 75% from its all-time high of $2.92. Together, this represents some of the worst performance seen among large altcoins over the past year.
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However, at the moment, it seems that the upside for cryptocurrencies is still far away as Bitcoin and altcoins continue to struggle in the market. As the cryptocurrency market relies on Bitcoin to start the next uptrend, a breakout towards $80,000 will likely trigger the next uptrend. In this case, altcoins are expected to work in tandem, making all-time highs as well.
Featured image created with Dall.E, chart from Tradingview.com
