A widely followed cryptocurrency analyst details when he thinks Ethereum (ETH) and altcoins could outperform Bitcoin (BTC).
In a new video update, cryptocurrency strategist Jason Piggino tells his 321,000 YouTube subscribers that the altcoin market is poised for a massive rally on behalf of the ETH/BTC pair. Told.
“The market still appears to be built for mega returns of 37x for altcoins. [ETH/BTC] This is a little proxy for altcoin pumps. ”
According to Pizzino, if history repeats itself and ETH/BTC behaves the same way it did the last time Bitcoin reached its cycle peak in 2021, traders will see a breakout of the pair in the coming months. It is said to be predictable. According to Pizzino's chart, it could be May or June.
“The point here is this. [we had a] One month Bitcoin hit a new all-time high, the next month it fell, and then ETH rose quite significantly from there.
So, if the situation is similar to last time, perhaps this could be due to Bitcoin hitting new all-time highs and going down. Then, as Bitcoin continues, we see another red moon here and then ETH flips here.”
At the time of writing, ETH/BTC is trading at 0.05145 BTC ($3,616).
Pizzino went on to say that smart contract platform Solana (SOL) will likely go through a similar process.
“It's the same thing with Solana…”
Looking back at the previous cycle, [Solana was a much] At that time, cryptocurrencies were weak, so [it is] Although it is much stronger now than it was then, Bitcoin was still lower than it was then, as evidenced by Bitcoin's new all-time high around November (2021). [the] At the time, it was the US dollar, and at that time it was going through a period of rapid appreciation, so we are now in a similar period to when Bitcoin hit an all-time high. ”
Solana is trading at $196 at the time of writing, down 1.5% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me twitterFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3
