Analyst Jason Pizzino thinks altcoins could outshine Bitcoin (BTC) this year as the crypto markets anticipate two potential bullish catalysts.
In a new YouTube video, Pizzino tells his 307,000 subscribers that two massive events for the crypto space are coming up this year: the Bitcoin halving and the US presidential election.
Pizzino thinks the halving, which is currently slated to happen on April 18th, could pause any ongoing correction. He thinks the election, however, could be an even bigger event for the crypto space.
“What we’ve seen from the [elections in the past is it’s] when the markets go ballistic. Sometimes a month or two earlier, sometimes right on that period. So stay alert coming into quarter three of 2024.”
The analyst sees Bitcoin correcting to around $37,000 in the short term. BTC is trading at $39,922 at time of writing and is down about 3% in the past 24 hours.
Pizzino thinks BTC and Ethereum (ETH) are primed to experience gains this year, but he also thinks altcoins will outperform the top two crypto assets later in the bull market cycle.
“Like we’ve known leading into this year of 2024, that it’s more probably likely going to be a better altcoin opportunity for the next stage of the cycle. Bitcoin is going to have gains. I suspect Ethereum will have gains but obviously [altcoins] are going to have even bigger gains. That should be a given by now.”
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