Jason Pizzino, known for his cryptocurrency analysis, thinks altcoins could overshadow Bitcoin (BTC) this year as markets await two potential bullish catalysts.
Pizzino tells his 307,000 subscribers that two big events are coming for the crypto world this year. These two developments; It consists of the Bitcoin halving and the US presidential election.
Pizzino thinks the halving, currently scheduled for April 18, could halt the ongoing correction. But he also thinks that there is a possibility that the elections will be an even bigger event for the crypto space.
What we have seen in the past after elections is when markets begin to trend upward. Sometimes a month or two ago, sometimes right around that time. That’s why I recommend you stay alert as we enter the third quarter of 2024.
NEWS CONTINUES BELOW
The analyst thinks Bitcoin will correct to $37,000 in the short term. At the time of writing, BTC was trading at $39,922.
Pizzino thinks BTC and Ethereum (ETH) are poised for gains this year, but he also thinks altcoins will outperform the top two crypto assets later in the bull market cycle.
As we know as we enter this year of 2024, it is more likely that there will be a better altcoin opportunity for the next phase of the cycle. Bitcoin will have gains. I suspect Ethereum will also make gains, but it’s clear that altcoins will make even bigger gains. This should have been obvious by now.