A closely followed crypto trader is predicting Ethereum (ETH) will reach new all-time highs (ATHs) within days.
Pseudonymous trader Criptopaul tells his 135,400 followers on the social media platform X that the top altcoin historically outperforms Bitcoin (ETH/BTC) during the month of the halving event, when BTC miners’ rewards are cut in half.
The next halving is expected to take place around April 19th.
Says the trader,
“The halving month [has arrived] and historically it has always been a crossroads for altcoin explosion and ETH/BTC reversal. Are you ready? I expect also a new ETH ATH in 30 days.”
ETH/BTC is trading for 0.05017 BTC ($3,495) at time of writing, down more than 2% in the last 24 hours. Ethereum reached an all-time high of nearly $4,900 in 2021.
The trader also believes that other altcoins will kick off fresh rallies this month.
“Some altcoins are having a little breath again, this was pre-second leg, the third leg coming soon to new ATH everywhere. I’m just holding.”
One altcoin that caught the attention of the trader is the top meme token Dogecoin (DOGE). The analyst thinks DOGE is printing a similar price pattern around the $0.20 level that it did around $0.01 ahead of a massive rally.
The trader shares a chart suggesting that DOGE could witness a parabolic rally if the pattern repeats.
“DOGE: what could go wrong?”
The trader also says it is within the realm of possibility for Dogecoin to overtake Ethereum’s (ETH) market capitalization this cycle.
“I wouldn’t be surprised to see Dogecoin going to flip Ethereum during this bull run. Surely you will laugh here too, like at my post about Solana at $9 on 30th December 2022, but I’m not joking – again.”
Dogecoin is trading for $0.202 at time of writing, down over 6% at time of writing.
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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.
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