Bitcoin and the aggregated crypto markets have remained trendless over the past several days and weeks, with BTC trading sideways within the lower-$8,000 region while altcoins have incurred mixed trends, with some surging higher while others have faltered as of late.<\/p>\n
This bout of trendless trading may soon come to an end, however, as multiple prominent analysts believe that most major altcoins will grind lower in the mid-term, with only Bitcoin and a handful of major cryptos having the potential to buck this trend and climb higher.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down nominally at its current price<\/a> of $8,250, and it has been inching lower ever since it visited $8,400 overnight, which is where it found notable resistance that sparked what appears to be a short-term downtrend.<\/p>\n This halted the upwards momentum that multiple major cryptos had incurred over the past several days, as XRP, Ethereum, and others have not been able to extend their recent uptrends today, which could be due to Bitcoin\u2019s inability to break above $8,400.<\/p>\n Although Bitcoin\u2019s prospect in the coming few months remains positive, and many analysts anticipate significantly further gains in the coming months and years, analysts are noting that altcoins could plummet lower in the near-term.<\/p>\n Alex Kr\u00fcger, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, explaining that most altcoins will drop another 50%-99%, as many currently have unwarranted market caps.<\/p>\n \u201cMost altcoins should eventually drop another 50%-99%. Markets can stay irrational\/mispriced for a long time … but not forever,\u201d he noted.<\/p><\/blockquote>\n Most altcoins should eventually drop another 50%-99%. Markets can stay irrational\/mispriced for a long time … but not forever. pic.twitter.com\/6Kk4Qn5cWk<\/a><\/p>\n — Alex Kr\u00fcger (@krugermacro) October 14, 2019<\/a><\/p><\/blockquote>\n\n