Trading Legend Peter Brandt Expects Ethereum to Significantly Outperform Bitcoin
Trading guru Peter Brandt has cheered Ethereum holders by predicting that their cryptocurrency will significantly outperform Bitcoin in the near future in his new tweet.
Brandt also believes that this applies to ‘most’ other altcoins, which means that the much-coveted altseason might have finally arrived.
More room for growth
At press time, ETH is changing hands at 0.02613 BTC, its highest level since March 8.
Ethereum has managed to gain more than five percent against Bitcoin over the last five days, but Brand is convinced that this breakout is far from over.
The chartist set his price target at 0.03276 BTC that would translate into a 23 percent increase for the ETH/BTC pair from where it is trading right now.
The largest altcoin is currently down over 79 percent from its all-time high of 0.12396 BTC that was recorded on Feb. 1, 2018.
Tuur Demeester of Adamant Capital agreed with Brandt’s take, claiming that Ethereum technical picture is very bullish. However, he hasn’t been sold on Ethereum’s fundamentals in spite of the mushrooming decentralized finance (DeFi) ecosystem.
Alex DovbnyaCharts above fundamentals
As reported by U.Today, Brandt called altcoins ‘pretenders’ (as opposed to Bitcoin), but he didn’t get his bias stand in the way of his chart analysis.
Multiple major altcoins (from Stellar to Chainlink) are in the middle of massive rallies while Dogecoin recently pumped 100 percent.
Even XRP, which Brandt slammed as a ‘scam’ that was going to zero, is now expected to go higher by the chartist.
Arman Shirinyan
U.Today Editorial Team
Vladislav Sopov
Dan Burgin