Swyftx Analyst Pav Hundal: Altcoins Will Struggle Until Bitcoin Breaks $100K Barrier

Swyftx Analyst Pav Hundal Predicts Volatility for Altcoins Until Bitcoin Reaches $100K

According to head analyst Pav Hundal of cryptocurrency exchange Swyftx, altcoins will oscillate between significant rallies and pullbacks until Bitcoin confirms a breakout above the $100,000 barrier.

We’re really waiting to see that exuberant move, and then we’ll look at that rotation of capital,

Hundal

According to Hundal, altcoins will probably remain choppy until Bitcoin surpasses the six-figure price threshold, but there are diamonds in the rough, such as multiple meme coins outperforming Bitcoin. Bitcoin reached $99,605 on November 23, just missing $100,000. It was trading at $97,724 at the time of writing.

I mean, they might see a 20%, 30%, 40% gain, but then it’ll retrace most of that move the next day,

Hundal

Solana and Memecoins to Experience Wild Price Swings, Analyst Warns

After posting a 13% gain in a single day on November 21, Solana lost about 13% during the following five days. This pattern has even been observed in big meme coins by market capitalization. CoinMarketCap data shows that after Coinbase and Robinhood announced their listings on November 15, Pepe jumped over 93.2% in a day before retracing nearly 22% of those gains the next day. Hundal responded that he wouldn’t dismiss the possibility that PEPE may see 800% days, as was the case in the previous cycle with Doge. However, he acknowledged that when discussing large market capitalization, it is imperative that the capital flow continues.

These sorts of things become more possible when Bitcoin dominance is coming back to the downside.

Hundal

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