A widely followed crypto analyst is detailing when he believes Ethereum (ETH) and altcoins could outpace Bitcoin (BTC).
In a new video update, crypto strategist Jason Pizzino tells his 321,000 YouTube subscribers that the altcoin market is setting up for a massive rally – with the ETH/BTC pair as its proxy.
“Still seems like the market is building for those mega 37x potential returns for altcoins. [ETH/BTC] is a bit of a proxy for the altcoin pump.”
According to Pizzino, if history repeats itself and ETH/BTC behaves the same way it did the last time Bitcoin hit its 2021 cycle peak, traders can expect a breakout of the pair sometime in the coming months. Pizzino’s chart indicates that it could be in May or June.
“The point here is: [we had a] new Bitcoin all-time high month, the following month was down and then ETH went on a pretty significant run from there.
So if things are similar to last time, maybe this is the move down because Bitcoin is pushing to new all-time highs, it’s taking the show, then you see another red month here as Bitcoin continues on, and then a reversal here for ETH.”
ETH/BTC is trading for 0.05145 BTC ($3,616) at time of writing.
Pizzino goes on to say that the smart contract platform Solana (SOL) will likely go through a similar process.
“Same sort of thing for Solana…
Just looking back at the previous cycle, [Solana was a much] weaker crypto at the time, [it is] now a lot stronger than what it was back then, but you can see also with the Bitcoin new all-time high price around November (2021), it still went lower even against [the] USD at that time, but then that was the time to skyrocket, so we’re in a similar sort of period now where Bitcoin’s gotten into its new all-time high.”
Solana is trading for $196 at time of writing, a 1.5% decrease during the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
