Cryptocurrency trader James Winn believes that Bitcoin’s dominance is about to set another record. In this regard, he warned from the use of an unsafe leverage in positions with altcoins, as they are fraught with mass liquidations and large personal losses.
Thus, Winn said that the long -awaited altcoin season may not take place, which contradicts the mood among alternative coins.
Winn believes that before the conditions for the superiority of altcoins are created, the price of bitcoin should rise to $ 120,000-140,000.
Speaking about the current state of the market, Winn sees a large number of inexperienced traders who have a limited understanding of the macroeconomic background, which drives cryptocurrency markets. In particular, “Novets from generation Z” risk their tokens, since their positions are unstable from the point of view of fundamental liquidity.
In this regard, the analyst emphasized that the global increase in the money supply M2, a decrease in bets and a policy of printing money are key factors of cryptocurrency liquidity. At the same time, there is a 12-week delayed relationship between changes in the money supply M2 and the bitcoin prices. This indicates that the next 60–90 days should be characterized by an ascending price movement.
According to Winn, when something similar happened for the last time, Bitcoin went up by 49% of the bull -boving point.
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Source: Cryptocurrency
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