Here’s When Ethereum and Altcoins Could Start To Outrun Bitcoin, According to Analyst Jason Pizzino – Crypto News – Crypto News
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Here’s When Ethereum and Altcoins Could Start To Outrun Bitcoin, According to Analyst Jason Pizzino – Crypto News

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1 year ago

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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.”

Source: Jason Pizzino/YouTube

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.

 

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