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The digital currency trader known as “Dr. Profit” warned that the alternative currency market could see a sharp decline and prices could return to 2020 levels, confirming his confidence in this scenario by opening a sell position worth $1 million.
His strategy was to allocate this capital across 100 alt-currencies at $10,000 per position while using low financial leverage, apparently betting on a broad decline in the sector.
He believes that most alternative currencies have experienced a prolonged bear market lacking real recovery catalysts, criticizing the role played by some influencers in promoting weak projects.
His expectations are based on past experience, such as the large wave of liquidations in October 2025 that resulted in severe losses for most alternative currencies, considering that the market currently lacks real institutional support and the remaining liquidity is dominated by individuals.
He estimates that a 50% drawdown could net him a profit of up to $500,000 while mitigating risk by allocating his positions.
He also likened the altcoin situation to risky small-cap stocks that look cheap but lack strong fundamentals.
On the other hand, other analysts think things could change, noting that the Fed could inject new liquidity into the market, which could support riskier assets and delay or cancel a sharp decline.
Currently, Bitcoin remains at a high near $76,000, and the performance of major currencies is relatively consistent, reflecting the balance between market panic and optimism.
Also read:
Bitcoin price returns to $76,000 levels, XLM leads altcoin gains
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