Renowned crypto analyst Jason Pizzino has shared insights suggesting that altcoins could take center stage and potentially outshine Bitcoin (BTC) in the coming year. Pizzino points to two major catalysts that could drive significant market movements: the Bitcoin halving and the upcoming US presidential election.
In a recent YouTube video, Pizzino highlights the potential impact of the Bitcoin halving, scheduled for April 18th. He suggests that this event could act as a pause button for the ongoing market correction.
However, he places even greater emphasis on the US presidential election as a potential game-changer for the crypto space.
Drawing from historical patterns, Pizzino notes that previous elections have triggered significant market rallies, either a month or two before the event or during the election period itself. He advises investors to stay alert as the crypto markets enter the third quarter of 2024.
While Pizzino anticipates a short-term correction for Bitcoin, projecting a dip to around $37,000, he remains optimistic about the overall trajectory. As of now, Bitcoin is trading at $38,603, experiencing daily losses of less than 5.91% and a weekly decline of over 9.4%.
Looking ahead, Pizzino foresees both Bitcoin and Ethereum (ETH) gaining momentum in the current year. However, he goes a step further, predicting that altcoins will surpass the top two cryptocurrencies later in the bull market cycle.
As the crypto community eagerly awaits these anticipated events, the coming months promise to be dynamic and potentially transformative for the entire digital asset landscape.
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