Glassnode, one of the leading providers of comprehensive crypto market analytics, recently projected that Ethereum is poised to surge in the upcoming months. Co-founders Yann Allemann and Jan Happens echoed this sentiment as they shared it with their 55,800 social media followers. Not only have the ETF duo predicted one of the most valuable cryptocurrencies to outperform its long-term trading patterns, but there is also gathering consensus among experienced investors to turn their attention toward select altcoins over Bitcoin in the short-term.
In opposition to this forecast, some experts suggest that Bitcoin itself will still demonstrate strength, while Ethereum skyrockets. Another expectation taking hold is that BTC will likely experience undo pressure due to current issues with the US dollar index (DXY). Glassnode advises hence that investors who seek to take advantage of market volatility err on the side of caution while building their portfolios, eschewing high-beta stocks while also noting that holding a net short position may be profitable.
The evidence of the success of this predictive performance can already be seen in the surge of Bitcoin from 0.06 BTC ($1742) to 0.07 BTC ($2,032). However, Glassnode still warns against taking high-risk stances until the markets demonstrate increased liquidity and the DXY stabilizes. In any case, their forecasts remain reputable and the savvy investor should use them as the benchmark when positioning.
