Peter Brandt: Bitcoin To Drastically Outperform Altcoins

The legendary trader Peter Brandt is predicting that Bitcoin will eventually outperform altcoins. Check out the latest reports about the price prediction of Bitcoin.

Brandt reportedly believes that Bitcoin will outperform all other digital assets. He said on Twitter that he is keeping a close watch on the Bitcoin dominance chart. This is tracking how much of the total crypto market cap belongs to BTC.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $28,576.

According to the trading veteran, BTC looks poised to break out after consolidating in a large rectangle for about two years.

“The Bitcoin (percentage) dominance chart has now formed a 24-month rectangle with multiple upper and lower boundary contacts. For now, this is the confining range. However, a decisive breakout of this range would have huge significance. My bias is that Bitcoin will bury all pretenders BTC.

Eventually, he believes that there will be only one ‘King of the Hill,’ and it will be Bitcoin.”

Senior macro strategist at Bloomberg Intelligence Mike McGlone is expressing optimism on Bitcoin (BTC) and other digital assets as Bitcoin engages in seesaw price movements.

McGlone says in a new Stansberry Research interview that he’s “very bullish” on Bitcoin and other assets in the Bloomberg Galaxy Crypto Index. This is happening as BTC increasingly becomes a “global digital collateral.”

On the other hand, the Bloomberg strategist says the macro landscape and the stock market could impact the growth potential of digital assets.

“Bitcoin, Ethereum, the Bloomberg Galaxy Crypto Index, I’m fully very bullish in the big picture, but very concerned about the ebbing tide to what I see in potentially a bear market in stocks.”

Stay tuned for more news from the crypto space.