Veteran trader Peter Brandt believes that a new altcoin season is likely to start in the near future and he predicted that altcoins are likely to outperform (BTC) during this next run. In the short-term, altcoins could embark on a rally without the support of Bitcoin but in the long-term it is unlikely that altcoins will rally if Bitcoin struggles to move up.
On July 9, the corrected and that resulted in a drop in Bitcoin, which shows that the correlation between the two remains intact. As Bitcoin broke below $9,200 level, it attracted profit booking from altcoins and pulled their prices lower.
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