Forget Bitcoin, Altcoins Are The Winners Of This Cycle, Crypto Analyst Says
April 01 2024 - 1:00PM
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All eyes look to be on the flagship crypto, Bitcoin, ahead of the
Bitcoin Halving, as market analysts predict further upside moves
for the crypto token. However, crypto analyst Jason Pizzino
recently made a strong case for altcoins like Ethereum (ETH) and
Solana (SOL) and why much focus should also be placed on
them. Ethereum And Solana Still Primed For Strong Moves Ahead
Of Bitcoin Pizzino suggested in a video on his YouTube channel that
Ethereum could experience a breakout in the coming months. This
came following his analysis of the ETH/BTC pair, in which he noted
that Bitcoin was currently taking the spotlight with new all-time
highs (ATH) while ETH looks to be consolidating. Related
Reading: Panel Of Experts Reveal When The Cardano Price Will Reach
$3 As highlighted by the analyst, this is similar to the previous
bull run when ETH consolidated while Bitcoin was hitting new ATHs.
However, ETH experienced a significant rise soon after then while
Bitcoin cooled off. As such, if history were to repeat itself, ETH
could once again enjoy a trend reversal soon enough and make a
parabolic move to the upside. Pizzino also mentioned SOL as another
altcoin that can potentially move to new prices against Bitcoin’s
value. In the last bull run, the crypto token also experienced
significant moves to the downside as Bitcoin hit new ATHs. However,
a trend reversal quickly followed afterward, with SOL enjoying
moves to the upside. Therefore, SOL, like ETH, could be
primed for price surges if history were to repeat. Pizzino added
that this is a time to be aware and see any price dip as a buying
opportunity to position for these price gains that could be on the
horizon. Ethereum Showing Some Strength Crypto analyst
Michaël van de Poppe echoed Pizzino’s sentiments in a post on his X
(formerly Twitter) platform. While analyzing the ETH/BTC pair, he
noted that ETH’s price hasn’t made any significant move against
Bitcoin’s as of yet. However, he added that it is a “good sign to
see some slight strength in Ethereum.” Related Reading: Prepping
For $100,000: Bitcoin Shark And Whales Spend Over $18 Billion To
Buy BTC Like Pizzino, van de Poppe also expects Ethereum to make a
massive move against Bitcoin’s value soon enough. The crypto expert
explicitly stated that he still expects “a lot” from the
second-largest crypto token by market cap. Besides Ethereum, van de
Poppe has continued making a case for other altcoins as he believes
they are still undervalued. In another X post, he highlighted
that altcoins are down between 25% and 40% from their recent highs.
However, van de Poppe remarked that this is the perfect time to
take positions and that these consolidations should be seen as
opportunities rather than a drawbacks. BTC takes crypto
market down with flash crash | Source: BTCUSD on Tradingview.com
Featured image from The Top Coins, chart from Tradingview.com
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