Source: dailyhodl.com
Closely followed trader and economist Alex Krüger is predicting Ethereum (ETH) will reach new all-time highs (ATHs), while also eyeing up other altcoins.
Krüger tells his 171,400 followers on the social media platform X that he “fully expects” new ATHs for ETH based on several fundamental reasons.
“I fully expect ETH to trade ATH. I am long ETH. I use ETH. It is useful. It is decent collateral and great for staking. ETH underperforms though. Those not using it for staking are down bad. The reason is simple. Most people in crypto already own too much ETH.
I’ve been talking about this for a long time. Ethereum maxis get upset of course. Don’t be a maxi. It will only cost you money. If you are too heavily allocated to ETH, the time to rebalance your portfolio is during market crashes, as I suggested [April 13th]. Relative performance matters.”
Ethereum is trading for $3,163 at time of writing, up more than 3% in the last 24 hours. ETH reached its all-time high of about $4,900 in November 2021.
Next up, the trader says that Bitcoin’s (BTC) cycle top has yet to be reached despite the dip over the weekend that began amid news of Iran’s attack on Israel.
“Hope you can understand how bullish this BTC chart is. The only thing that has changed is the market is now much healthier after a proper cleansing. Everyone is now talking about what an obvious top it was. That is nonsense. Hindsight bias.
The market was hot. But the market had been red hot since mid-February. In fact, those who exited when the market got hot sold Bitcoin in the low $50,000. Markets can run hot for a very long time. War concerns triggered a correction. Without the war, the correction would have come with BTC much higher.”
Bitcoin is trading for $64,757 at time of writing, up slightly in the last 24 hours.
Kruger says that the broader crypto market correction is an opportunity to allocate to “faster horses” that could perform well once bullish momentum resumes. He names Solana (SOL), Toncoin (TON), Worldcoin (WLD), Arweave (AR) and BIttensor (TAO).
“Market flushes are the perfect time to reallocate from poor-performing assets (e.g. ETH) into ‘higher quality’ faster horses (e.g. SOL, TON, WLD, AR, TAO).”
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