According to professional trader Scott Melker, Ethereum’s “tremendous upside potential” could overshadow Bitcoin this year.
Ethereum is likely to outperform Bitcoin, at least in the short term, said veteran trader Scott Melker in an exclusive interview with Cointelegraph.
Alt szn is upon us
Melker sees this period of Bitcoin’s price consolidation as particularly bullish for the second largest cryptocurrency, that recently reached new all time highs. Melker sees Ether’s outstanding performance as the main catalyst of the recent altcoin market bull run.
He also revealed he has been largely switching his dollar-cost averaging strategy from Bitcoin to Ether in the last few months, in order to take advantage of Ethereum’s “tremendous upside potential”.
“It’s like investing in the Internet in the early 1990s to me.”, Melker said.
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 a five X from here. […] Bitcoin did almost three times that last year.”
To find out 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!