Ethereum is likely to outperform Bitcoin, in the short term at least, veteran trader Scott Melker said in an exclusive interview with Cointelegraph.
Alt szn is upon us
Melker finds this period of Bitcoin price consolidation particularly bullish for the second largest cryptocurrency, which reached new all-time highs recently. Melker sees Ether’s outstanding performance as a major catalyst for the altcoin market’s recent bull run.
It also revealed that it has been changing its dollar cost equalization strategy largely from Bitcoin to Ether over the past few months, in order to take advantage of Ethereum’s “tremendous upside potential”.
“It’s like investing in the Internet in the early 1990s for me.”, Says Melker.
According to Melker, Etherum could reach the $ 10K price target within the end of 2021.
“I don’t see why that’s crazy. It’s basically just under five X’s from here. […] Bitcoin did nearly three times last year. ”
To find out more about Melker’s outlook on Ether, XRP and other large-cap altcoins, watch the full interview on our YouTube channel and don’t forget to subscribe!