u.today
Glassnode co-founders Yann Allemann and Jan Happel have joined forces with esteemed trader Henrik Zeberg to offer a bold prediction for the future of Ethereum (ETH). According to the trio's analysis, ETH is likened to a ticking time bomb, displaying short-term weakness but with the promise of a golden midterm opportunity that traders should not overlook.
The experts, known for their astute market insights, took to X (formerly known as Twitter) to share their findings. The advice for traders is to consider shifting their focus from Bitcoin (BTC) to altcoins, as the ETH/BTC trading pair signals a favorable time for this transition. While BTC might experience a fleeting shine, the stage appears to be set for Ethereum to embark on a spectacular run.
In light of this prediction, seasoned traders are cautioned against high-beta plays and encouraged to concentrate on building a robust core portfolio, aligning with the upcoming bullish market sentiment.
High beta
For those seeking high-beta options within the Ethereum ecosystem, the analysts have highlighted two intriguing choices – Optimism (OP) and Arbitrum (ARB) tokens.
These particular crypto assets have showcased notable outperformance during positive market conditions. Interestingly, ARB and OP often find themselves vying for buyers and liquidity, generating a competitive dynamic reminiscent of the end of March when the airdrop of Arbitrum tokens resulted in a 20% dip in the price of OP.