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According to professional trader Scott Melker, Ethereum’s “tremendous upside potential” could overshadow Bitcoin this year.
Ether (ETH) is likely to outperform Bitcoin (BTC), at least in the short term, said veteran trader Scott Melker in an exclusive interview with Cointelegraph.Â
Alt season is upon us
Melker sees this period of Bitcoin’s price consolidation as particularly bullish for the second-largest cryptocurrency, which 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.”
According to Melker, Ether could reach the $10,000 price target by the end of 2021.
“I don’t see why that’s crazy. It’s basically just under a 5x 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!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.