Analyst Jason Pizzino believes altcoins could outperform Bitcoin (BTC) this year as the crypto market anticipates two potential bullish catalysts.
In a new YouTube video, Pizzino told his 307,000 subscribers that this year will see two big events for the cryptocurrency industry: the Bitcoin halving and the U.S. presidential election.
Pizzino believes the halving, currently scheduled for April 18, could provide a pause for the ongoing correction, but he believes the election could be an even bigger event for the crypto industry.
“What we saw was [elections in the past is it’s] “That's when the market is going to spike. It could be a month or two earlier, or it could be right around the corner. So, we'll have to be on the lookout for the third quarter of 2024.”
Analysts expect Bitcoin to correct around $37,000 in the short term. At the time of writing, BTC is trading at $39,922, down about 3% in the past 24 hours.
Pizzino believes BTC and Ethereum (ETH) are set to rise this year, but he also believes altcoins will outperform the top two crypto assets later in the bull market cycle.
“As we knew heading into 2024, the next phase of the cycle is likely to be a better opportunity for altcoins. Bitcoin is going to go up. I think Ethereum is going to go up, but obviously [altcoins] “We're going to get even bigger benefits. That should be the obvious thing.”
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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