The decision in favor of Ripple from the SEC-XRP case ignited the rally in Bitcoin and altcoins, especially in XRP, and nice rises were seen.
At this point, BTC saw above $ 31,000, while the largest altcoin Ethereum saw over $ 2,000.
While Ethereum underperforms BTC, experts remain hopeful for ETH.
Glassnode co-founder Yann Allemann, known as Negentropic on Twitter, said in his post that ETH is actually a time bomb.
Stating that Ethereum may show short-term weakness, Glassnode co-founder stated that he sees ETH as a medium-term golden opportunity.
Looking at the chart of the ETH/BTC pair, the analyst said that investors should switch from BTC to altcoins, “According to the ETH/BTC trading pair, it's time to switch from BTC to altcoins.” said.
According to the analyst, although Bitcoin will shine in the crypto industry with its rise, this will be short-lived and ETH is preparing for a magnificent rally.
The analyst, who advises investors to create a strong portfolio, said:
“ETH is literally a ticking time bomb.
Although Ethereum shows weakness in the short term, it is a golden opportunity in the medium term!
BTC may shine for a short while, but ETH is poised for a spectacular run.
Focus on building a strong core portfolio for the upcoming bull market.”
ETH Ticking Bomb
Short-term weakness, but a golden mid-term opportunity!
🔶According to the ETHBTC trading pair, it's time to shift from BTC to altcoins.
🔶Hold on, BTC might shine briefly, but ETH is gearing up for a spectacular run!
🔶Avoid high-beta plays and focus on… pic.twitter.com/tntwzwyV2Y— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) August 3, 2023
Ethereum, which has increased by 53% since the beginning of 2023, continues to be traded at $ 1,837 at the time of writing.
*Not investment advice.
